Red Door Community Leases Office Space At 114 West 26th Street In Chelsea For 7 Years
114 West 26th Street
$37
$37/SF
Building Size
9,300 SF
Asset Type
Office
Closing
Apr 14, 2025
About this deal
AI
The asset involved in the transaction is an office space located at 114 West 26th Street in Chelsea, Manhattan. The property spans a total area of 9,300 square feet and is under a lease agreement with an asking rent of $37 per square foot. The lease term established for this transaction is seven years, categorized as a Full Service Gross lease.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $37/ft
- Lease Term: 7 years
- Lease Type: Full Service Gross
- Address: 114 West 26th Street
- Market: Chelsea, Manhattan
- Landlord: Dan Colin Properties & Jal Colin Properties
- Tenant: Red Door Community
- Landlord's Representatives: Joel Kubie & Michael Beyda - Benchmark; Jeff Buslik - Adams & Co.
- Tenant's Representatives: Carri Lyon & Jenna Catalon - Cushman & Wakefield
- Square Footage: 9,300
Carri Lyon and Jenna Catalon, representing Red Door Community, facilitated the lease transaction. Red Door Community is a non-profit organization dedicated to providing care and services to individuals battling cancer and is relocating to occupy a full floor in Chelsea.
On the Map
$37
$37/SF
Office
View full map
Players
New York Office Market Snapshot
Boundary boundary · Office · Lease transactions
Loading comparables…
Deal FAQ
Visit Jeff Buslik to view all their deals.
Browse New York office leases on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
428729.73%
Cash-on-Cash
-122532.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93