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54 West 39th Street

Topview Leases Office Space In Midtown South, Manhattan
LEASEDOffice

Topview Leases Office Space In Midtown South, Manhattan

54 West 39th Street

$39

$39/SF

Building Size

2,500 SF

Asset Type

Office

Closing

Oct 25, 2023

AI

Located in Midtown South, Manhattan, the office space at 54 West 39th Street has recently been leased. The property spans 2,500 square feet and is being offered for lease under a modified gross lease arrangement. The asking rent for this space is $39 per square foot.

Summary of Transaction Details

  • Property Type: Office
  • Transaction Amount: Lease
  • Date: 10/25/2023
  • Address: 54 West 39th Street
  • Market: Midtown South, Manhattan
  • Asking Rent: $39/ft
  • Square Footage: 2,500

The landlord, Slavik Goffman, agreed to lease the property to the tenant, Topview. Representing the landlord in this deal were Andrew Stern and Ravi Idnani from Newmark, while Alex Fleischman and Avery Reavill from Okada & Company represented the tenant.

Players

Andrew Stern

Newmark

Broker

$5.4M

vol

76 deals

Broker

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

406743.59%

Cash-on-Cash

-116248.57%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93