Junior Achievement Leases 10,035 Square Feet Office Space At 230 West 38th Street Manhattan
230 West 38th Street
$38
$38/SF
Building Size
10,035 SF
Asset Type
Office
Closing
Oct 31, 2024
AI
The property involved in this lease transaction is an office space located at 230 West 38th Street in Manhattan. The space encompasses 10,035 square feet and the asking rent for this asset is $38 per square foot.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $38/ft
- Square Footage: 10,035
- Address: 230 West 38th Street
- Market: Manhattan
- Landlord: Jonathan P. Rosen - Rosen Equities
- Tenant: Junior Achievement
- Landlord's Representative: Daniel Breiman - Olmstead Properties
- Tenant's Representative: Paul Walker - CBRE
Junior Achievement of New York is the tenant who signed the lease for the second floor, establishing a learning center focused on teaching youth about economics and entrepreneurship. The representatives involved in this transaction were Daniel Breiman from Olmstead Properties representing the landlord and Paul Walker from CBRE representing the tenant.
Players
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
417447.37%
Cash-on-Cash
-119307.74%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93