Perkins & Will Leases 50,680 Square Feet At 135 West 18th Street Chelsea For 15 Years
135 West 18th Street
Building Size
50,680 SF
Asset Type
Office
Closing
Oct 8, 2026
About this deal
AI
The asset involved in this transaction is an office space located at 135 West 18th Street in Chelsea, Manhattan. The total square footage of the property is 50,680. Perkins & Will has signed a lease for the entire second through fifth floors of the building.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not Specified
- Address: 135 West 18th Street
- Market: Chelsea, Manhattan
- Lease Terms: 15 years
- Landlord: Peter J. Pappas Sr. - PJ Mechanical
- Tenant: Perkins & Will
- Landlord's Representative: Neil Goldmacher, Howard Kesseler, Todd Hershman & Alexander Kesseler - Newmark
- Tenant's Representative: Gerry Miovski & Masha Dudelzak - CBRE
This lease agreement involves key representatives from both sides. The landlord's interests are represented by Neil Goldmacher, Howard Kesseler, Todd Hershman, and Alexander Kesseler from Newmark, while Gerry Miovski and Masha Dudelzak from CBRE represent Perkins & Will in this transaction.
On the Map
Office
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Players
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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