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11 East 26th Street

Warren Equity Partners Leases Office Space At 11 East 26th Street For 13 Years
LEASEDOffice

Warren Equity Partners Leases Office Space At 11 East 26th Street For 13 Years

11 East 26th Street

$145

$145/SF

Building Size

24,199 SF

Asset Type

Office

Closing

Jun 25, 2025

AI

The property asset involved in this lease transaction is located at 11 East 26th Street in the Flatiron District. The asset type is an office space encompassing a total of 24,199 square feet across two floors. The asking rent for the lease was set at $145 per square foot.

Summary of transation details:

  • Property Type: Office
  • Transaction Amount: $145/ft
  • Lease Duration: 13 years, 5 months
  • Landlord: Henry Elghanayan - Rockrose
  • Tenant: Steven Wacaster - Warren Equity Partners
  • Landlord's Representative: Ariel Harwood & William Cohen - Newmark
  • Tenant's Representative: Benjamin Friedland, Gary Davies & Owen Reda - CBRE
  • Market: Flatiron District
  • Square Footage: 24,199

The deal reflects Warren Equity Partners' decision to relocate its New York City office, bringing them closer to Madison Square Park. The involved representatives from both sides played a crucial role in facilitating the transaction, ensuring the lease was executed smoothly.

Players

Benjamin Friedland

CBRE

Broker

9 deals

Broker
Newmark
NewmarkBrokerage
CBRE
CBREBrokerage
Newmark
NewmarkBrokerage

Henry Elghanayan

Rockrose Development

Landlord

$251.2M

vol

7 deals

Landlord
Rockrose Development
Rockrose DevelopmentLandlord

New York Office Market Snapshot

Boundary boundary · Office · Lease transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

109400.00%

Cash-on-Cash

-31266.86%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93