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:
- Property Type: Office
- Transaction Amount: $392,640
- Landlord: GDSNY
- Tenant: Garden Intelligence
- Landlord's Representative: Michael Movshovich, Connor Daugstrup & Grant Potter - Cushman & Wakefield
- Tenant's Representative: Eric Siegel - LSL Advisors
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
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