Keith Dougherty Of Roland Foods Leases Office Space At WeWork's Former HQ In Chelsea
115 West 18th Street
Building Size
28,850 SF
Asset Type
Office
Closing
Nov 1, 2024
AI
Roland Foods will relocate its global headquarters to a 28,850-square-foot space on the fifth floor of WeWork’s former headquarters at 115 West 18th Street in Chelsea, with an asking rent of $62 per square foot.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $62 per square foot
- Address: 115 West 18th Street
- Market: Chelsea, Manhattan
- Landlord: Wasserstein Enterprises
- Tenant: Keith Dougherty - Roland Foods
- Brokers: John Isaacs & Joseph DeRosa - CBRE
John Isaacs and Joseph DeRosa from CBRE represented the landlord, Wasserstein Enterprises, in this lease transaction. The arrangement reflects a strategic move for Roland Foods as it establishes its global headquarters within a notable area of Manhattan.
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