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247 West 37th Street

Knit Illustrated, Inc. Signs Five-Year Lease For Office Space At 247 West 37th Street
LEASEDOffice

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

Matthew Mandell

GFP Real Estate

Broker

$75M

vol

21 deals

Broker
GFP Real Estate
GFP Real EstateLandlord

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