Knit Illustrated, Inc. Signs Five-Year Lease For Office Space At 247 West 37th Street
247 West 37th Street
Building Size
4,051 SF
Asset Type
Office
Closing
Dec 19, 2025
AI
The property asset involved in this transaction is an office space located at 247 West 37th Street in Manhattan's Garment District. The lease encompasses a total of 4,051 square feet situated on the 3rd floor of the building. The asset is a part of a market that serves the office sector.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not disclosed
- Address: 247 West 37th Street
- Market: Manhattan
- Landlord: GFP Real Estate
- Tenant: Knit Illustrated, Inc
- Broker: Matthew Mandell - GFP Real Estate
- Lease Duration: Five years
Knit Illustrated, Inc. signed a lease for office and sample showroom usage, relocating within the building to continue its operations. Matthew Mandell represented GFP Real Estate in this leasing transaction.
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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93