CVE North America Leases Office Space At 29 West 38th Street In Midtown For $35/ft
29 West 38th Street
$35
$35/SF
Building Size
7,150 SF
Asset Type
Office
Closing
Mar 19, 2025
AI
The property asset involved in the transaction is located at 29 West 38th Street in Midtown. The leased space comprises 7,150 square feet and is being provided under a Modified Gross Lease. The asking rent for the asset is set at $35 per square foot.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $250,250
- Landlord: ABS Partners
- Tenant: CVE North America
- Landlord's Representative: Ben Waller - ABS Partners Real Estate
- Tenant's Representatives: Zoe Snow & Daria Ghasemi - ABS Partners Real Estate
- Lease Type: Modified Gross Lease
This transaction includes key representatives from ABS Partners Real Estate, with Ben Waller representing the landlord and Zoe Snow alongside Daria Ghasemi representing the tenant. Their involvement highlights the collaboration within the brokerage firm facilitating this lease agreement.
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
453228.57%
Cash-on-Cash
-129534.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93