MSQ Partners Leases 38,273 Square Feet At 50 West 23rd Street In Flatiron District
50 West 23rd Street
$70
$70/SF
Building Size
38,273 SF
Asset Type
Office
Closing
Sep 9, 2025
AI
The asset involved in the transaction is located at 50 West 23rd Street in Manhattan's Flatiron District. This office space spans 38,273 square feet, with an asking rent set at $70 per square foot for a long-term lease arrangement.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $70/ft
- Lease Term: 10 years
- Landlord: Jed Walentas - Two Trees Management
- Tenant: Aaron Lang - MSQ Partners
- Broker: Aidan Campbell - Colliers
The lease agreement was facilitated by Aidan Campbell from Colliers, representing the interests of MSQ Partners. This transaction showcases the commitment of Two Trees Management to provide substantial office space options in a competitive market environment.
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
226614.29%
Cash-on-Cash
-64767.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93