LEASEDOffice
Sierra Signs 94,145 Square Foot Lease With Rockrose Development At 11 East 26th Street
11 East 26th Street
Building Size
94,145 SF
Asset Type
Office
Closing
May 1, 2026
AI
11 East 26th Street is an office asset located in the Midtown South market. The property encompasses a total of 94,145 square feet.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not disclosed
- Address: 11 East 26th Street
- Market: Midtown South
- Landlord: Henry Elghanayan - Rockrose Development
- Tenant: Bret Taylor & Clay Bavor - Sierra
Sierra, an AI customer support firm, has secured a lease for the office space at Rockrose’s 11 East 26th Street. This transaction is noted as one of Manhattan’s largest office deals in April.
Players
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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93