The property asset involved is an office space located at 15 West 39th Street in Midtown South, Manhattan. The lease is established at an asking rent of $38 per square foot, encompassing a total area of 5,800 square feet. The landlord of this property is the Cheng Family, and the tenant is River NYC, securing a modified gross lease agreement.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $38/ft
• Square Footage: 5,800
• Address: 15 West 39th Street
• Market: Midtown South, Manhattan
• Landlord: Cheng Family
• Tenant: River NYC
• Brokers: Christopher Okada & Thomas Capuano - Okada & Company
• Lease Type: Modified Gross Lease

Christopher Okada and Thomas Capuano of Okada & Company were instrumental in facilitating this transaction. They noted that this lease completion brings the occupancy of 15 West 39th Street to 100%. Since 2021, they have leased nearly 850,000 square feet of commercial space in Midtown Manhattan, highlighting their significant activity in the market.