Fred Astaire Dance Studios Leases Office Space In Chelsea At 548 West 28th Street
548 West 28th Street, Manhattan, New York, NY, USA
Building Size
3,311 SF
Asset Type
Office
Closing
May 11, 2021
AI
An office space located at 548 West 28th Street in Chelsea has recently been leased. The transaction took place on 05/12/2021 and involved the following details:
Summary of transaction details
- Property Type: Office
- Asking Rent: $49/ft.
- Square Footage: 3,311
- Address: 548 West 28th Street
- Market: Chelsea
The tenant who secured the lease is Fred Astaire Dance Studios. The landlord in this agreement is Pinetree Group. Representing the tenant in the transaction was Alex Furst from Watch Hill Real Estate.
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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93