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53-55 West 21st Street

Updated Dec 4, 2024

PlayPlay Leases 5,000 Sq Ft Office In Flatiron, Manhattan
LEASEDOffice

PlayPlay Leases 5,000 Sq Ft Office In Flatiron, Manhattan

53-55 West 21st Street

Building Size

5,000 SF

Asset Type

Office

Closing

Jan 17, 2024

About this deal

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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Players

Emilie Goldman

JLL

Broker

4 deals

Broker
Joe Moinian

Joe Moinian

The Moinian Group

Landlord

$1.1B

vol

15 deals

Landlord
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Deal FAQ

About $54 per square foot for 5,000 square feet (2024).

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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

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