JaySuites Acquires Office Building In Manhattan For $58M With Lessor HBC

The recently closed property transaction at 15 West 38th Street, Manhattan, NY involved a triple net lease deal for an office asset. The property spans across 90,000 square feet and was sold for a price of $58,000,000. The landlord, The Rosen Group, leased the property to HBC - Hudson's Bay Co., with Richard Baker representing the lessor. On the other hand, @JaySuites, represented by Jack and Juda Srour, acted as the lessee. The broker involved in the transaction was Sean Black.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $58,000,000
• Address: 15 West 38th Street, Manhattan, NY
• Square Footage: 90,000 SF
• Landlord: The Rosen Group
• Lesser: HBC - Hudson's Bay Co. - Richard Baker
• Lessee: @JaySuites - Jack & Juda Srour
• Broker: Sean Black

In this deal, Jack and Juda Srour, along with Sean Black as their broker, represented @JaySuites as the lessee. On the other side, Richard Baker represented HBC - Hudson's Bay Co. as the lessor. The transaction reflects the growing demand for office assets in the area, with 15 West 38th Street being a prime location for businesses.