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548 West 28th Street, Manha...

Fred Astaire Dance Studios Leases Office Space In Chelsea At 548 West 28th Street
LEASEDOffice

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

Alexander Furst

Watch Hill Real Estate

Broker

$1.8M

vol

4 deals

Broker
PG
Pinetree GroupLandlord

Fred Astaire

Tenant

2 deals

Tenant

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