Mark Lazarus Of Versant Leases Office Space At 229 West 43rd Street From Adam Frazier
229 West 43rd Street
Building Size
164,545 SF
Asset Type
Office
Closing
Oct 1, 2025
About this deal
AI
The leased property is located at 229 West 43rd Street in the Times Square market. This office asset comprises a substantial space of 164,545 square feet, recently transitioned for new tenancy.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 229 West 43rd Street
- Market: Times Square
- Landlord: Adam Frazier - Columbia Property Trust
- Tenant: Mark Lazarus - Versant
In August, Versant, a spinoff of Comcast, secured the lease for the former New York Times building, which previously housed MSNBC at 30 Rockefeller Plaza, according to Savills’ Q3 Manhattan leasing report.
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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