Morilee Leases 10,000 SF Office Space At 158 West 27th Street Chelsea From AFIAA

The property asset involved is located at 158 West 27th Street, positioned in the Chelsea market. This office space has a total square footage of 10,000 and was leased at an asking rent of $60 per foot. The lease type is a Modified Gross Lease, which outlines the terms of expenses shared between the landlord and tenant.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $600,000
• Address: 158 West 27th Street
• Market: Chelsea
• Landlord: AFIAA
• Tenant: Morilee
• Landlord's Representative: Eric Siegel, Daniel Lolai & David Lolai - LSL Advisors
• Tenant's Representative: David Waterman & Lance Korman - Newmark
• Lease Type: Modified Gross Lease
• Asking Rent: $60/ft
• Square Footage: 10,000

The lease agreement reflects collaboration between key representatives from each party. The landlord was represented by Eric Siegel, Daniel Lolai, and David Lolai from LSL Advisors, while the tenant had representation from David Waterman and Lance Korman of Newmark. Their roles were crucial in facilitating the successful negotiation and execution of this lease transaction.