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
New York Office Market Snapshot
Boundary boundary · Office · Lease transactions
Loading comparables…
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