Edward Cohen Of Verv Capital Leases Office Space To Skylight Studios At 255 Canal Street
255 Canal Street
$60
$60/SF
Building Size
2,000 SF
Asset Type
Office
Closing
Jul 26, 2025
AI
The property involved in the transaction is located at 255 Canal Street, SoHo, Manhattan, and is classified as office space. The asset has a square footage of 2,000 and was leased for an asking rent of $60 per square foot. The lease type is a Modified Gross Lease.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $120,000
- Address: 255 Canal Street
- Market: SoHo, Manhattan
- Landlord: Edward Cohen - Verv Capital
- Tenant: Skylight Studios
- Landlord's Representative: Morris Tobias - Monday Morning MGMT
Morris Tobias represents the landlord, Edward Cohen, in this lease transaction. He is associated with Monday Morning MGMT, a company that specializes in commercial real estate across Manhattan and Brooklyn. They work with both landlords and tenants to facilitate efficient deals that create long-term value.
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
264383.33%
Cash-on-Cash
-75561.57%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93