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:
- Property Type: Office
- Transaction Amount: $65/ft
- Lease Term: 10 years
- Landlord: David Levy - Adams & Company
- Tenant: Huge
- Landlord's Representative: Jeff Buslik, Bradley Cohn & Alan Bonett - Adams & Company
- Tenant's Representative: Gabe Marans, David Mahoney & Maxine Rosen - Savills
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
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