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53 West 23rd Street

Huge Signs 10-Year Lease For 16,909 Square Feet At 53 West 23rd Street In Manhattan
LEASEDOffice

Huge Signs 10-Year Lease For 16,909 Square Feet At 53 West 23rd Street In Manhattan

53 West 23rd Street

$65

$65/SF

Building Size

16,909 SF

Asset Type

Office

Closing

Oct 2, 2025

AI

The asset involved in this transaction is an office space located at 53 West 23rd Street in the Flatiron District of Manhattan. The total square footage of the property is 16,909, with an asking rent of $65 per square foot. The lease term is set for 10 years.

Summary of transaction details:

This deal reflects Huge's relocation from its Dumbo office, consolidating into the space previously occupied by Hero Digital on Park Avenue. The transaction was facilitated by Savills, who represented the tenant while the landlord was represented in-house by Adams & Company.

Players

Jeff Buslik

Adams & Company

Broker

14 deals

Broker
Savills
SavillsBrokerage
Adams & Company
Adams & CompanyLandlord

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

244046.15%

Cash-on-Cash

-69749.14%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93