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255 Canal Street

Edward Cohen Of Verv Capital Leases Office Space To Skylight Studios At 255 Canal Street
LEASEDOffice

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

Morris Tobias

Monday Morning MGMT

Broker

21 deals

Broker
Edward Cohen

Edward Cohen

Verv Capital

Landlord

$20.2M

vol

9 deals

Landlord

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