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158 West 27th Street

Verse Medical Leases Office Space In Chelsea Manhattan From AFIAA
LEASEDOffice

Verse Medical Leases Office Space In Chelsea Manhattan From AFIAA

158 West 27th Street

$48

$48/SF

Building Size

10,000 SF

Asset Type

Office

Closing

May 2, 2024

AI

The office property located at 158 West 27th Street in Chelsea, Manhattan, has been leased in a transaction involving the landlord, AFIAA, and the tenant, Verse Medical. The space comprises 10,000 square feet, with an asking rent of $48 per square foot. The lease type for this transaction is a Modified Gross Lease.

Summary of transaction details:

The tenant, Verse Medical, was represented by Jordy Elardo from Colliers International, while the landlord, AFIAA, was represented by Daniel Lolai and Eric Siegel from LSL Advisors in collaboration with Michael Thomas from Colliers International.

Players

Daniel Lolai

LSL Advisors

Broker

$211.9M

vol

91 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

330479.17%

Cash-on-Cash

-94451.96%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93