Paul Taylor Dance Company Signs 30-Year Lease At 307 West 38th Street In Midtown
307 West 38th Street
$35
$35/SF
Building Size
31,000 SF
Asset Type
Office
Closing
Jan 10, 2024
AI
The Paul Taylor Dance Company has signed a 30-year leasehold condominium agreement with George Comfort & Sons to occupy 31,000 square feet on the ninth and 10th floors of 307 West 38th Street in Midtown. The asking rent for the space is $35 per square foot.
Summary of transaction details
- Property Type: Office
- Transaction Amount: Not applicable
- Address: 307 West 38th Street
- Market: Midtown
- Landlord: Peter Duncan, Matthew Coudert & Alexander Bermingham - George Comfort & Sons
- Tenant: Paul Taylor Dance Company - Michael Novak
- Square Footage: 31,000
The deal involves the Paul Taylor Dance Company as the tenant, represented by Michael Novak, and George Comfort & Sons as the landlord, represented by Peter Duncan, Matthew Coudert, and Alexander Bermingham.
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
453228.57%
Cash-on-Cash
-129534.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93