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49 West 23rd Street

Drury Design Leases Office Space In Flatiron District For $53/ft
LEASEDCommercial

Drury Design Leases Office Space In Flatiron District For $53/ft

49 West 23rd Street

$53

$53/SF

Building Size

5,594 SF

Asset Type

Commercial

Closing

May 7, 2024

AI

Located at 49 West 23rd Street in Manhattan's Flatiron District, the commercial property leased by Drury Design spans 5,594 square feet with an asking rent of approximately $53 per square foot.

Summary of transaction details:

Bradley Cohn and Jeffrey Buslik of Adams & Company served as the landlord's representatives in the deal, while Catherine Vilar and Mark Furst from the Kaufman Organization represented Drury Design. The transaction involved securing space for Drury Design, a communications firm, within the bustling Flatiron District of Manhattan.

Players

Jeff Buslik

Adams & Company

Broker

14 deals

Broker

New York Commercial Market Snapshot

Boundary boundary · Commercial · Lease transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

299301.89%

Cash-on-Cash

-85541.40%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93