Okada & Co. is delighted to announce the leasing of 6,500 SF of Class B Office space at 224 West 35th Street in the Penn Plaza/Garment Center market. The landlord, Gatsby Enterprises, successfully leased the space to the tenant, Dab Inc, in a Modified Gross Lease arrangement. The asking rent for the property was $35 per square foot, resulting in a total transaction value of $227,500.

Summary of transaction details

• Property Type: Office
• Transaction Amount: $227,500
• Address: 224 West 35th Street, New York, NY
• Market: Penn Plaza/Garment Center
• Landlord: Gatsby Enterprises
• Tenant: Dab Inc
• Brokers: Christopher Okada & Hiro Iwata - Okada & Company
• Size: 6,500 SF

This lease transaction marks the 143rd deal of the year for Okada & Co. In 2023 alone, they have leased a total of 304,235 square feet, and since 2021, they have leased an impressive 623,619 square feet of office space. Christopher Okada and Hiro Iwata of Okada & Company represented both the landlord, Gatsby Enterprises, and the tenant, Dab Inc, in this successful transaction.

Okada & Co., known for their expertise in the NYC office and commercial real estate market, has positioned themselves as one of the most active players in the post-pandemic office market. With a portfolio of over 3.5 million square feet of commercial real estate in Midtown Manhattan, Okada & Co. is well-regarded for their quick turnaround time, marketing prowess, and broker-friendly approach. Brokers can reach out to Christopher Okada at [email protected] or visit www.okadaco.com for more information on their bonus and incentive property list.