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307 West 38th Street

GMHC Leases 16,727 SF Office Space At 307 West 38th Street With Tenant's Representatives Steven Evans & Cash Bernard
LEASEDOffice

GMHC Leases 16,727 SF Office Space At 307 West 38th Street With Tenant's Representatives Steven Evans & Cash Bernard

307 West 38th Street

$585,445

$585,445/SF

Building Size

16,727 SF

Asset Type

Office

Closing

Sep 25, 2025

AI

The asset involved in this lease transaction is an office space located at 307 West 38th Street in the Times Square South market. The space has a square footage of 16,727 and the asking rent is set at $35 per square foot. This arrangement falls under a Modified Gross Lease structure.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $35/ft
  • Square Footage: 16,727
  • Address: 307 West 38th Street
  • Market: Times Square South
  • Landlord: GMHC
  • Tenant's Representative: Steven Evans & Cash Bernard - Platinum Commercial
  • Lease Type: Modified Gross Lease

In this lease transaction, Steven Evans and Cash Bernard from Platinum Commercial represent the tenant in this agreement with GMHC, the landlord. Their involvement facilitates the negotiations and details of the lease arrangement.

Players

Cash Bernard

Broker

3 deals

Broker
Platinum Commercial
Platinum CommercialBrokerage

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

27.10%

Cash-on-Cash

-7.74%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93