Cohen Capital MGMT & Salamon Acquisitions Lease Office In Midtown South To SDGi For $49/ft
242 West 38th Street
$49
$49/SF
Building Size
2,700 SF
Asset Type
Office
Closing
Jun 3, 2026
About this deal
AI
The property asset involved in this transaction is an office space located at 242 West 38th Street in Midtown South. It features a total square footage of 2,700 and is leased under a Modified Gross Lease at an asking rent of $49 per square foot. The lease term for this asset is six years.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Landlord: Cohen Capital MGMT & Salamon Acquisitions
- Tenant: SDGi
- Brokers: JD Cohen, Ariel Harwood & William (Billy) Cohen - Newmark
- Asking Rent: $49/ft
- Lease Term: 6 Years
- Lease Type: Modified Gross Lease
The key individuals involved in this transaction are JD Cohen, Ariel Harwood, and William (Billy) Cohen, who represent the landlord as brokers from Newmark. Cohen Capital MGMT is actively seeking more value-add office opportunities, indicating interest in expanding its property portfolio.
On the Map
$49
$49/SF
Office
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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
323734.69%
Cash-on-Cash
-92524.37%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93