Fifth Season Leases Office Space At 115 West 27th Street For $45 Per Square Foot
115 West 27th Street
$45
$45/SF
Building Size
5,000 SF
Asset Type
Office
Closing
Oct 12, 2026
About this deal
AI
The asset involved in this transaction is an office property located at 115 West 27th Street in the Chelsea market. The property features a total square footage of 5,000 and is leased under a modified gross lease for an asking rent of $45 per square foot.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $225,000
- Address: 115 West 27th Street
- Market: Chelsea
- Landlord: Joel Berman
- Tenant: Fifth Season
- Brokers: Michael Gammal & Avery Reavill - KSR
The deal was facilitated by brokers Michael Gammal and Avery Reavill from KSR, representing both the landlord Joel Berman and the tenant Fifth Season in the transaction process.
On the Map
$45
$45/SF
Office
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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
352511.11%
Cash-on-Cash
-100748.76%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93