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115 West 18th Street

Keith Dougherty Of Roland Foods Leases Office Space At WeWork's Former HQ In Chelsea
LEASEDOffice

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

John Isaacs

CBRE

Broker

9 deals

Broker

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