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545 West 25th Street

Pura Vida Investments Leases 4,095 SF Office Space At 545 West 25th Street In Chelsea, Manhattan
LEASEDOffice

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

Michael Segerman

Current Real Estate Advisors

Broker

$8.6M

vol

27 deals

Broker

New York Office Market Snapshot

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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