Thor Equities Leases 12,250 SF Office Space To CitizenM Hotel In Midtown Manhattan

25 West 39th Street is an office property located in Midtown Manhattan with a lease type classified as a Modified Gross Lease. The total square footage of the leased space is 12,250, and the asking rent is set at $60 per square foot.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $735,000
• Lease Type: Modified Gross Lease
• Landlord: Thor Equities
• Tenant: CitizenM Hotel
• Landlord's Representatives: Christopher Okada, Avery Reavill, & Thomas Capuano - Okada & Company
• Tenant's Representatives: Dennis Someck & Justin Myers - Lee & Associates

This transaction marks a notable achievement for the involved brokerage teams, particularly in the context of challenging market conditions. The landlord's representatives emphasized the intense effort that went into securing the lease, noting the significance of leasing space amidst perceptions of a declining office market and affirming their commitment to New York City's resilience.