M. Rapaport Co., Inc Leases Office Space To UpClear At 150 West 22nd Street In Chelsea
150 West 22nd Street
$55
$55/SF
Building Size
6,900 SF
Asset Type
Office
Closing
Sep 30, 2025
AI
The asset involved in this lease transaction is an office space located at 150 West 22nd Street in Chelsea, Manhattan. The property encompasses 6,900 square feet and the asking rent for this modified gross lease is set at $55 per square foot.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $379,500
- Lease Type: Modified Gross Lease
- Landlord: M. Rapaport Co., Inc
- Tenant: UpClear
- Landlord's Representative: Eli Someck
- Tenant's Representative: Joel Kubie - Benchmark Properties
The transaction involves key representatives including Eli Someck, who represents M. Rapaport Co., Inc, and Joel Kubie, who represents UpClear through Benchmark Properties. Their roles were crucial in facilitating the lease agreement between the landlord and tenant.
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
288418.18%
Cash-on-Cash
-82430.80%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93