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27 West 24th Street

MJ Orbach & Associates Leases Office Space At 27 West 24th Street To Pitmaster NYC
LEASEDOffice

MJ Orbach & Associates Leases Office Space At 27 West 24th Street To Pitmaster NYC

27 West 24th Street

$75

$75/SF

Building Size

13,386 SF

Asset Type

Office

Closing

Jun 3, 2025

AI

The property asset involved in this transaction is located at 27 West 24th Street in the Flatiron District. It is classified as an office space with a total square footage of 13,386. The asking rent for this property was set at $85 per foot, and the lease type is a Modified Gross Lease.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $85/ft
  • Square Footage: 13,386
  • Address: 27 West 24th Street
  • Market: Flatiron District
  • Landlord: MJ Orbach & Associates
  • Tenant: Pitmaster NYC
  • Landlord's Representative: Matthew Schuss - JLL
  • Tenant's Representatives: Eric Siegel, Chery Anavian & Daniel Lolai - LSL Advisors
  • Lease Type: Modified Gross Lease

The deal involved key individuals and companies such as Matthew Schuss representing the landlord, MJ Orbach & Associates, through JLL, while Eric Siegel, Chery Anavian, and Daniel Lolai represented the tenant, Pitmaster NYC, through LSL Advisors.

Players

Daniel Lolai

LSL Advisors

Broker

$211.9M

vol

91 deals

Broker
LSL Advisors
LSL AdvisorsBrokerage
JLL
JLLBrokerage

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

211506.67%

Cash-on-Cash

-60449.25%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93