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11 East 26th Street

Reckoner Capital Management Leases 12,124 Square Feet Office At 11 East 26th Street In Manhattan
LEASEDOffice

Reckoner Capital Management Leases 12,124 Square Feet Office At 11 East 26th Street In Manhattan

11 East 26th Street

Building Size

12,124 SF

Asset Type

Office

Closing

Mar 12, 2025

AI

The property asset involved in the transaction is located at 11 East 26th Street in Manhattan. This office space encompasses 12,124 square feet, which will serve as the headquarters for Reckoner Capital Management as they establish their first office in New York City.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not disclosed
  • Address: 11 East 26th Street
  • Market: Manhattan
  • Landlord: Henry Elghanayan - Rockrose Development
  • Tenant: John Kim - Reckoner Capital Management
  • Brokers: Ariel Harwood, Neil Goldmacher & William Cohen - Newmark

This lease marks a significant move for Reckoner Capital Management, highlighting their expansion into the New York City market. The landlords, represented by Henry Elghanayan, play a pivotal role in the execution of this leasing agreement.

Players

Neil Goldmacher

Newmark

Broker

16 deals

Broker

Henry Elghanayan

Rockrose Development

Landlord

$251.2M

vol

7 deals

Landlord

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