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22 West 19th St., New York ...

Morning Brew Leases Office Space At 22 West 19th Street In Chelsea
LEASEDOffice

Morning Brew Leases Office Space At 22 West 19th Street In Chelsea

22 West 19th St., New York City, New York 10011, United States

Building Size

37,650 SF

Asset Type

Office

Closing

Feb 27, 2022

AI

A lease transaction has taken place in Chelsea, specifically at 22 West 19th Street. The asset in question is an office space, covering a total square footage of 37,650. The property was leased by the tenant, Morning Brew, represented by lexLieb and AustinRief. On the landlord side, the Kaufman Organization, represented by Sam Stein and Michael Heaner, facilitated the lease deal. The asking rent for the space was $65 per square foot.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: N/A
  • Address: 22 West 19th Street
  • Market: Chelsea
  • Tenant: Morning Brew
  • Tenant's Representatives: lexLieb and AustinRief
  • Landlord: The Kaufman Organization
  • Landlord's Representatives: Sam Stein and Michael Heaner
  • Asking Rent: $65 per square foot
  • Square Footage: 37,650

The lease deal at 22 West 19th Street was negotiated by Doug Regal and Jamie Katcher, who served as the brokers for both the tenant and the landlord in this transaction. They played a crucial role in facilitating the lease and ensuring that both parties reached mutually agreeable terms.

Players

Jamie Katcher

Brookfield Properties

Broker

14 deals

Broker
Kaufman Organization
Kaufman OrganizationBrokerage
Sam Stein

Sam Stein

Kaufman Organization

Landlord

$24.6M

vol

5 deals

Landlord
Kaufman Organization
Kaufman OrganizationLandlord

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