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152 West 57th Street

Updated Mar 12, 2025

Tom Elghanayan, Frederick Elghanayan, And Jake Elghanayan Of TF Cornerstone Lease Manhattan Office To Tenant Steve Rosenberg Of Greystone
LEASEDOffice

Tom Elghanayan, Frederick Elghanayan, And Jake Elghanayan Of TF Cornerstone Lease Manhattan Office To Tenant Steve Rosenberg Of Greystone

152 West 57th Street

$115

$115/SF

Building Size

50,000 SF

Asset Type

Office

Closing

Mar 10, 2025

About this deal

AI

The property asset involved in the transaction is located at 152 West 57th Street in Manhattan, consisting of an office space with a square footage of 50,000. The asking rent for this lease was set at $115 per square foot.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $115/ft
  • Address: 152 West 57th Street
  • Market: Manhattan
  • Landlord: Tom Elghanayan, Frederick Elghanayan & Jake Elghanayan - TF Cornerstone
  • Tenant: Steve Rosenberg - Greystone
  • Broker: Matthew Leon - Newmark

This deal involved the landlord group consisting of Tom Elghanayan, Frederick Elghanayan, and Jake Elghanayan, representing TF Cornerstone, who leased the space to tenant Steve Rosenberg from Greystone, facilitated by broker Matthew Leon from Newmark.

NOTE: Amazon signed a 193,000 sq. ft. lease at 237 Park Avenue, adding to its recent NYC office expansions, including subleases at Five Manhattan West and 330 West 34th Street.

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$115

$115/SF

Office

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Players

Matthew Leon

Newmark

Broker

8 deals

Broker

Tom Elghanayan

TF Cornerstone

Landlord

$524.8M

vol

4 deals

Landlord
Greystone
GreystoneTenant
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New York Office Market Snapshot

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Deal FAQ

About $115 per square foot on a published $115 for 50,000 square feet (2025).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

137939.13%

Cash-on-Cash

-39423.43%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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