facebook

traded

+ Submit
Home

/

Deals

/

New York

/

Office

/

Lease

/

150 West 22nd Street

M. Rapaport Co., Inc Leases Office Space To UpClear At 150 West 22nd Street In Chelsea
LEASEDOffice

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

Joel Kubie

Benchmark Properties

Broker

$60M

vol

23 deals

Broker
Eli Someck

Eli Someck

Landlord

2 deals

Landlord

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

288418.18%

Cash-on-Cash

-82430.80%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93