Paul Taylor Dance Company Signs 30-Year Lease At 307 West 38th Street In Midtown
307 West 38th Street
Building Size
31,000 SF
Asset Type
Office
Closing
Jan 10, 2024
About this deal
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.
On the Map
Office
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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