GDSNY Leases Office Space To Antimetal At 205 West 28th Street In Chelsea For $88/ft
205 West 28th Street
$88
$88/SF
Building Size
8,685 SF
Asset Type
Office
Closing
Nov 15, 2024
AI
The property asset involved in this transaction is an office space located at 205 West 28th Street in the Chelsea market. The total square footage of the space is 8,685, and it has a modified gross lease type. The asking rent for this property was set at $88 per square foot.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 205 West 28th Street
- Market: Chelsea
- Landlord: GDSNY
- Tenant: Antimetal
- Landlord's Representative: Ethan Silverstein, Michael Movshovich, Connor Daugstrup & Grant Potter - Cushman & Wakefield
- Tenant's Representative: Raphael Zar & Eric Siegel - LSL Advisors
The deal notably involved several key representatives from each side. The landlord's representation included Ethan Silverstein, Michael Movshovich, Connor Daugstrup, and Grant Potter, all from Cushman & Wakefield, while the tenant was represented by Raphael Zar and Eric Siegel from LSL Advisors.
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
180261.36%
Cash-on-Cash
-51519.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93