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205 West 28th Street

GDSNY Leases Office Space To Garden Intelligence At 205 West 28th Street In Chelsea
LEASEDOffice

GDSNY Leases Office Space To Garden Intelligence At 205 West 28th Street In Chelsea

205 West 28th Street

$96

$96/SF

Building Size

4,090 SF

Asset Type

Office

Closing

Sep 11, 2024

AI

The asset involved in this transaction is an office property located at 205 West 28th Street in Chelsea, Manhattan. The space encompasses 4,090 square feet and is leased under a modified gross lease at a rate of $96 per square foot.

Summary of transaction details:

Key individuals involved in this transaction include the landlord represented by Michael Movshovich, Connor Daugstrup, and Grant Potter of Cushman & Wakefield, and the tenant represented by Eric Siegel from LSL Advisors. Each party played a crucial role in facilitating this lease agreement.

Players

Eric Siegel

LSL Advisors

Broker

$96M

vol

56 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

165239.58%

Cash-on-Cash

-47225.98%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93