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115 West 27th Street

Joel Berman Leases Office Space To BH OpCo Inc. At 115 West 27th Street For $50/ft
LEASEDOffice

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

Christopher Okada

Okada & Company

Broker

$352.8M

vol

85 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

317260.00%

Cash-on-Cash

-90673.88%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93