GDSNY Leases Office Space To Injective Labs At 205 West 28th Street In Chelsea
205 West 28th Street
$112
$112/SF
Building Size
8,685 SF
Asset Type
Office
Closing
Nov 1, 2024
About this deal
AI
The property asset involved in this transaction is located at 205 West 28th Street in the Chelsea market. This office space is available under a Modified Gross Lease, with an asking rent of $112 per square foot, encompassing a total of 8,685 square feet.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $112/ft
- Address: 205 West 28th Street
- Market: Chelsea
- Landlord: GDSNY
- Tenant: Injective Labs
- Landlord's Representative: Ethan Silverstein, Michael Movshovich, Connor Daugstrup & Grant Potter - Cushman & Wakefield
- Tenant's Representative: Steven Evans - Platinum Properties
The deal was facilitated by a team of brokers representing both the landlord and tenant, highlighting the collaborative efforts in securing this lease agreement. The landlord was represented by a team from Cushman & Wakefield, while the tenant's interests were managed by Platinum Properties.
On the Map
$112
$112/SF
Office
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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
141633.93%
Cash-on-Cash
-40479.41%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93