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209 West 38th Street

Zelouf International Signs 10-Year Lease For 13,600 Square Feet At 209 West 38th Street
LEASEDOffice

Zelouf International Signs 10-Year Lease For 13,600 Square Feet At 209 West 38th Street

209 West 38th Street

Building Size

13,600 SF

Asset Type

Office

Closing

Feb 12, 2026

AI

The asset involved in this transaction is an office space located at 209 West 38th Street in Manhattan. The lease signed encompasses a total area of 13,600 square feet, representing the full sixth floor of the building.

Summary of transaction details:

The deal was facilitated by Matthew Mandell and Brett Harvey, representing JLL as brokers in the transaction. Zelouf International is relocating from their previous office at 225 West 37th Street as part of this agreement, securing a significant amount of space in their new location.

Players

Brett Harvey

Newmark

Broker

$270M

vol

28 deals

Broker

Eric Gural

GFP Real Estate

Landlord

15 deals

Landlord

Danny Zelouf

Tenant

$36.2M

vol

4 deals

Tenant

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

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93