Joel Berman Leases Office Space To BH OpCo Inc. At 115 West 27th Street For $50/ft
115 West 27th Street
$50
$50/SF
Building Size
5,200 SF
Asset Type
Office
Closing
Mar 31, 2026
AI
The property asset involved in this transaction is located at 115 West 27th Street in the Manhattan market. The asset type is office space with a total square footage of 5,200. The asking rent for the space is set at $50 per square foot, and the lease type is a modified gross lease.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $50/ft
- Address: 115 West 27th Street
- Market: Manhattan
- Square Footage: 5,200
- Landlord: Joel Berman
- Tenant: BH OpCo Inc.
- Landlord's Representative: Avery Reavill, Tate Sams & Christopher Okada - Okada & Company
- Tenant's Representative: Robert McCormick - Norman Bobrow & Company
This transaction involved key individuals representing both parties. The landlord, Joel Berman, was supported by representatives from Okada & Company, namely Avery Reavill, Tate Sams, and Christopher Okada. On the tenant side, BH OpCo Inc. was represented by Robert McCormick from Norman Bobrow & Company.
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
317260.00%
Cash-on-Cash
-90673.88%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93