Fashionphile Signs 10-Year Lease At Chelsea Office Building
601 West 26th Street, New York, NY 10001, USA
Building Size
60,000 SF
Asset Type
Office
Closing
Jun 23, 2020
AI
601 W. 26th Street in Chelsea has been leased to @Fashionphile, a tenant in the office sector. The lease, signed on June 23, 2021, has a term of 10 years. The property spans an area of 60,000 square feet and the asking rent was $70 per square foot.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Lease
- Address: 601 W. 26th Street
- Market: Chelsea
The landlord for this lease transaction is @RXR_Realty. The brokers involved in the deal include Jason Frazier, Jesse de la Rama, Larry Schiffenhaus BRE, Dan Birney, and Denise Rodriguez from XR_Realty.
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