Red Door Community Signs 9300 Square Foot Lease At 114 West 26th Street In Chelsea
114 West 26th Street
Building Size
9,300 SF
Asset Type
Office
Closing
Apr 25, 2025
AI
The asset involved in this transaction is an office space located at 114 West 26th Street in Chelsea, Manhattan. The lease encompasses a total area of 9,300 square feet, specifically occupying the entire fourth floor of the building.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 114 West 26th Street
- Market: Chelsea, Manhattan
- Landlord: Dean Colin Properties & Jal Colin Properties
- Tenant: Dan Latore - Red Door Community
- Landlord's Representatives: David Levy & Jeffrey Buslik - Adams & Company; Joel Kubie & Michael Beyda - Benchmark Properties
- Tenant's Representatives: Carri Lyon & Jenna Catalon - Cushman & Wakefield
This lease transaction was significant for Red Door Community, as it involves their relocation from a longstanding space on West Houston Street to the new premises. The representation involved two different agencies for the landlords and two for the tenant, highlighting the collaboration needed to finalize this lease agreement.
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