PlayPlay Leases 5,000 Sq Ft Office In Flatiron, Manhattan
53-55 West 21st Street
$54
$54/SF
Building Size
5,000 SF
Asset Type
Office
Closing
Jan 17, 2024
AI
The Moinian Group, led by landlord Joseph Moinian, has leased a dedicated 5,000-square-foot office space at 53-55 West 21st Street in Flatiron, Manhattan. The office space will serve as the first headquarters in New York City for PlayPlay, a Paris-based content platform. The lease transaction was facilitated by PlayPlay's representative, Leah Zafra from Cushman & Wakefield, and the landlord's representative, Emilie Goldman from Raise Commercial Real Estate.
Summary of transation details
- Property Type: Office
- Transaction Amount: Not specified
- Address: 53-55 West 21st Street
- Market: Flatiron, Manhattan
- Landlord: Joseph Moinian - The Moinian Group
- Tenant: PlayPlay
- Tenant's Representative: Leah Zafra - Cushman & Wakefield
- Landlord's Representative: Emilie Goldman - Raise Commercial Real Estate
- Asking Rent: $54/ft
- Square Footage: 5,000
Note: PlayPlay has chosen 53-55 West 21st Street as its first headquarters in New York City to expand its presence in the area. The Paris-based content platform will occupy a dedicated 5,000-square-foot office space in the Flatiron district.
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New York Office Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
293759.26%
Cash-on-Cash
-83957.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93