LEASEDOffice
SoundCloud Signs Sublease For 23,000 SF Office Space In Meatpacking District
2 Gansevoort Street
$75
$75/SF
Building Size
23,000 SF
Asset Type
Office
Closing
Nov 30, 2023
AI
Kobalt Music Group has leased out office space at 2 Gansevoort Street in the Meatpacking District. The space measures 23,000 square feet and is being subleased to tenants SoundCloud. The asking rent for the lease is $75 per square foot.
Summary of transaction details
- Property Type: Office
- Transaction Amount: Not mentioned
- Address: 2 Gansevoort Street
- Market: Meatpacking District
Savills brokers James Wenk, Kirill Azovtsev, and Peter Hennessy represented Kobalt Music Group in the deal.
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
211506.67%
Cash-on-Cash
-60449.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93