Kittae Of NY Signs Five-Year Lease For Office Space At 209 West 38th Street
209 West 38th Street
Building Size
1,930 SF
Asset Type
Office
Closing
May 1, 2025
AI
The property asset involved in this transaction is an office space located at 209 West 38th Street in Midtown South, comprising 1,930 square feet. The deal pertains specifically to a lease agreement rather than a sale. The location is notable within the Midtown South market, catering to tenants requiring office and showroom space.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Lease Term: Five years
- Landlord: Eric Gural, Jeffrey Gural & Brian Steinwurtzel - GFP Real Estate
- Tenant: Kittae of NY
- Landlord's Representative: Matthew Mandell - GFP Real Estate
- Tenant's Representative: Evan Lieberman - Resolution Real Estate Partners
This lease agreement was facilitated by Matthew Mandell, representing the landlords, GFP Real Estate, while Evan Lieberman represented the tenant, Kittae of NY. This transaction highlights the collaboration between these companies in securing a five-year lease for the requisite space.
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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93