Pura Vida Investments Leases 4,095 SF Office Space At 545 West 25th Street In Chelsea, Manhattan
545 West 25th Street
$70
$70/SF
Building Size
4,095 SF
Asset Type
Office
Closing
Nov 16, 2023
AI
The office space located at 545 West 25th Street in Chelsea, Manhattan has recently been leased. The property, measuring 4,095 square feet, was leased by Pura Vida Investments under a Single Net Lease agreement. The asking rent for the space was $70 per square foot.
Summary of transaction details
- Property Type: Office
- Transaction Amount: Not specified
- Address: 545 West 25th Street
- Market: Chelsea, Manhattan
- Tenant: Pura Vida Investments
- Landlord: Young Woo & Associates
- Sublandlord: Pace Gallery
- Asking Rent: $70/ft
- Square Footage: 4,095
- Lease Type: Single Net Lease
Representing the landlord, Young Woo & Associates, Michael Segerman from Current Real Estate Advisors facilitated the lease agreement. On the other hand, Lance Leighton and Scott Ansel from JLL acted as the representatives for Pura Vida Investments during the negotiation process.
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
226614.29%
Cash-on-Cash
-64767.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93