Tech

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CLASS A
OFFICE SPACE

Park Tower’s design features floor-to-floor heights of
up to 14 feet. With floor-to-ceiling windows, and
minimal-to-no columns per floor, there is an
opportunity for every tenant to maximize natural light,
comfort and flexibility without compromising the
design integrity or spatial use for individual tenant
improvements.
With floor sizes ranging from approximately 27,500
rentable square feet at the base, to approximately
12,000 rentable square feet at the top of the tower,
the Building can accommodate a wide range of tenant
requirements and office layouts, from an open and
collaborative style with exposed ceilings to a more
traditional workstation benching and office layout.

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31,000 SF
FOR LEASE

Park Tower’s design features floor-to-floor heights of
up to 14 feet. With floor-to-ceiling windows, and
minimal-to-no columns per floor, there is an
opportunity for every tenant to maximize natural light,
comfort and flexibility without compromising the
design integrity or spatial use for individual tenant
improvements.
With floor sizes ranging from approximately 27,500
rentable square feet at the base, to approximately
12,000 rentable square feet at the top of the tower,
the Building can accommodate a wide range of tenant
requirements and office layouts, from an open and
collaborative style with exposed ceilings to a more
traditional workstation benching and office layout.

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FLOOR
PLANS

FIRST FLOOR: 15,500 SQUARE FEET

SECOND FLOOR: 15,500 SQUARE FEET

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THE BEST
LOCATION

Park Tower’s design features floor-to-floor heights of
up to 14 feet. With floor-to-ceiling windows, and
minimal-to-no columns per floor, there is an
opportunity for every tenant to maximize natural light,
comfort and flexibility without compromising the
design integrity or spatial use for individual tenant
improvements.
With floor sizes ranging from approximately 27,500
rentable square feet at the base, to approximately
12,000 rentable square feet at the top of the tower, the
Building can accommodate a wide range of tenant
requirements and office layouts, from an open and
collaborative style with exposed ceilings to a more
traditional workstation benching and office layout.

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WHY 8.6m 4.2%
NYC? Population
Unemployment

$1.33T #1 Most Fortune
500 Companies
NYC Metro GDP

#1 2.3M #1

Largest Tech Workforce People With a Bachelor’s Largest Public
In the United States Degree or Higher Transit System

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“No place has more to offer than New York City. Our five boroughs
are hives of ingenuity—we have over 9,000 startups and more Fortune 500
companies than any other city in the nation. New York City firms receive
more venture capital funding than nearly any other metro area.
We are also the nation’s largest academic hub, with 105 institutions of
higher learning and world-class teaching hospitals that are shaping the future
of healthcare. There are more New Yorkers with a bachelors’ degree or
above than in Los Angeles, San Francisco, Seattle, Washington, D.C.,
and Atlanta combined.”

- Mayor Bill De Blasio

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AERIAL
MAP

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TRIBECA
MIDTOWN

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COLLABORATIVE
FLOOR PLANS

Park Tower’s design features floor-to-floor heights of up
to 14 feet. With floor-to-ceiling windows, and
minimal-to-no columns per floor, there is an
opportunity for every tenant to maximize natural light,
comfort and flexibility without compromising the
design integrity or spatial use for individual tenant
improvements.
For more than a century the Fashion District has served
as a major economic driver in the region and it
continues to generate approximately 39 percent of
Southern California’s total $46 billion garment industry.

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THE BEST
AMENITIES

Park Tower’s design features floor-to-floor heights of
up to 14 feet. With floor-to-ceiling windows, and
minimal-to-no columns per floor, there is an
opportunity for every tenant to maximize natural light,
comfort and flexibility without compromising the
design integrity or spatial use for individual tenant
improvements.
For more than a century the Fashion District has served
as a major economic driver in the region and it
continues to generate approximately 39 percent of
Southern California’s total $46 billion garment industry.

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PHOTO
GALLERY

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OUTDOOR
SPACES

Park Tower’s design features floor-to-floor heights of
up to 14 feet. With floor-to-ceiling windows, and
minimal-to-no columns per floor, there is an
opportunity for every tenant to maximize natural light,
comfort and flexibility without compromising the
design integrity or spatial use for individual tenant
improvements.
For more than a century the Fashion District has served
as a major economic driver in the region and it
continues to generate approximately 39 percent of
Southern California’s total $46 billion garment industry.

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LEASING
AVAILABILITIES

OPERATING STATEMENT

Income Current Year 1 Per Unit Per SF
26,475 22.32
Gross Potential Rent 211,800 211,800 0.00
Loss/Gain to Lease (24,600) 0 0 22.32
Gross Scheduled Rent 187,200 26,475 (0.67) 3.0%
Physical Vacancy (5,616) 3.0% 211,800 (794) 3.0% ($1) 3.0%
Total Vacancy ($5,616) 3.0% (6,354) 3.0% ($794) 3.0% $21.65
Effective Gross Income $181,584 ($6,354) 3.0% $25,681 Per SF
Per Unit 1.52
Operating Expenses Current $205,446 1,798 0.84
1,000 0.08
Real Estate Taxes 14,380 Year 1 0.61
Insurance 8,000 94 0.42
Utilities - Electric 14,380 726 0.21
Utilities - Water & Sewer 753 8,000 500 1.08 (5.0%)
Repairs & Maintenance 5,807 250 $4.76
Operating Reserves 4,000 753 1,284 (5.0%)
Management Fee 2,000 5,807 $5,652 $16.88
Total Expenses 9,079 (5.0%) 4,000
Expenses as % of EGI $44,019 2,000 $20,029
Net Operating Income 24.2% 10,272 (5.0%)
$137,565 $45,212
22.0%
$160,234

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TENANT SUMMARY Monthly Rent Square Feet Lease Term Renewals

Tenant 9,800 211,800 10 Years 5 Year Options
13,670 0 5 Years 1 Year Options
Lifetime Bio 21,384 25 Years 10 Year Options
Tech Software 10,728 211,800 10 Years 5 Year Options
Pharmaceuticals 100,000 (6,354) 3.0% ($794) 3.0%
Security $181,584 ($6,354) 3.0% $25,681 ($1) 3.0%
Totals $21.65
Effective Gross Income $205,446

PRICING DETAILS RATE OF RETURNS

Price $31,000,000 Returns Current Potential
Square Feet 6.97%
Price Per SqFt 31,000 CAP Rate 4.98% 10.86
Gross SqFt $1,000 GRM 12.29 6.97%
Lot Size 9,490 Cash-on-Cash 5.98%
Year Built 1.3 Acres Lot Size 1.3 Acres
Year Built 2012
2012

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