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:
- Property Type: Office
- Transaction Amount: Not provided
- Landlord: AFIAA
- Tenant: Verse Medical
- Landlord's Representatives: Daniel Lolai & Eric Siegel - LSL Advisors; Michael Thomas - Colliers International
- Tenant's Representative: Jordy Elardo - Colliers International
- Address: 158 West 27th Street
- Market: Chelsea, Manhattan
- Asking Rent: $48 per square foot
- Lease Type: Modified Gross Lease
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
New York Office Market Snapshot
Boundary boundary · Office · Lease transactions
Loading comparables…
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