Fashion Business Corp Signs Five-Year Lease Extension For Office Space At 209 West 38th Street
209 West 38th Street
Building Size
7,900 SF
Asset Type
Office
Closing
Jul 24, 2025
About this deal
AI
The asset involved in this lease transaction is an office space located at 209 West 38th Street in Midtown South, encompassing a total of 7,900 square feet. The property is occupied by Fashion Business Corp, which has extended its lease at this location.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not disclosed
- Address: 209 West 38th Street
- Market: Midtown South
- Landlord: GFP Real Estate
- Tenant: Fashion Business Corp
- Broker: Mathew Mandell - GFP Real Estate
- Lease Duration: Five-year lease extension
- Current Tenant Duration: Since 2010
The transaction includes key representatives from GFP Real Estate, with Mathew Mandell acting as the broker representing the landlord, facilitating the lease extension agreement with Fashion Business Corp.
On the Map
Office
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Players
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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