Sussex Publishers Secures 6-Year Lease For Office Space In Flatiron District At 16 West 22nd Street
16 West 22nd Street
$83
$83/SF
Building Size
3,285 SF
Asset Type
Office
Closing
Nov 27, 2023
AI
Sussex Publishers, the owner of Psychology Today, has secured a six-year lease for a 3,285-square-foot office space at 16 West 22nd Street in the Flatiron District. The space was leased from Barbara Yagoda, who represents GFP Real Estate. The asking rent for the property was $83 per square foot, resulting in a total lease value of approximately $273,255.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $273,255
- Address: 16 West 22nd Street
- Market: Flatiron District
Doug Rice, from Rice & Associates, represented Sussex Publishers in this lease transaction.
Players
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
191120.48%
Cash-on-Cash
-54622.82%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93