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225 West 34th Street

Chelsea Lighting Expands Office Lease To 13,868 Square Feet At 225 West 34th Street
LEASEDOffice

Chelsea Lighting Expands Office Lease To 13,868 Square Feet At 225 West 34th Street

225 West 34th Street

Building Size

13,868 SF

Asset Type

Office

Closing

Mar 17, 2026

AI

The property asset involved in this transaction is located at 225 West 34th Street in Midtown Manhattan. It is an office space with a total area of 13,868 square feet. The lease has been established for a period of 10 years.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not specified
  • Lease Term: 10-year lease
  • Landlord: Jay Futersak - Circle Realty
  • Tenant: Chelsea Lighting
  • Broker: Joseph D’Apice - CBRE

Jay Futersak represents the landlord, Circle Realty, while Joseph D’Apice represents the tenant, Chelsea Lighting. Chelsea Lighting is expanding its office space, increasing from 7,000 to 13,868 square feet at Circle Realty’s 14 Penn Plaza.

Players

Joseph D’Apice

CBRE

Broker

6 deals

Broker

Jay Futersak

Landlord

3 deals

Landlord
Chelsea Lighting
Chelsea LightingTenant

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