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601 West 26th Street, New Y...

Fashionphile Signs 10-Year Lease At Chelsea Office Building
LEASEDOffice

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

Dan Birney

Broker

2 deals

Broker
RXR Realty
RXR RealtyLender
RXR Realty
RXR RealtyLandlord
Fashionphile
FashionphileTenant

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