Manish Shah Leases Office Space To Jesse Cheng At 50 West 47th Street For $91/SF
50 West 47th Street
$91
$91/SF
Building Size
1,184 SF
Asset Type
Office
Closing
Sep 8, 2026
About this deal
AI
The property involved in this transaction is located at 50 West 47th Street in Midtown, Manhattan. It is an office asset with a lease term of 3 years, under a modified gross lease structure. The asking rent for this property is set at $91 per square foot, with a total area of 1,184 square feet.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $108,896
- Landlord: Manish Shah
- Tenant: Jesse Cheng
- Tenant's Representative: Matthew Fernandez & Gavin Pollack - OpenKey™
The transaction involved key individuals such as Manish Shah as the landlord and Jesse Cheng as the tenant. Representing the tenant, Matthew Fernandez and Gavin Pollack from OpenKey™ played a crucial role in negotiating the lease agreement.
On the Map
$91
$91/SF
Office
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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
174318.68%
Cash-on-Cash
-49820.81%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93