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
NYC?

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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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ROOFTOP
DECK

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

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

PRICING DETAILS RATE OF RETURNS

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

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