Spotter Signs 17,000 Square Foot Lease At 25 West 39th Street In Manhattan
25 West 39th Street
Building Size
17,000 SF
Asset Type
Office
Closing
Jun 22, 2026
About this deal
AI
The asset involved in this transaction is an office space located at 25 West 39th Street in Manhattan, featuring a total square footage of 17,000. Spotter has secured a three-year lease for the entire 14th floor, with the lease price being approximately $70 per square foot, situated near Bryant Park.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: ~$70 per square foot
- Address: 25 West 39th Street
- Market: Manhattan
- Lease Duration: Three years
- Landlord: Joseph J. Sitt
- Landlord's Company: Thor Equities
- Tenant: Spotter
- Landlord's Representative: Christopher Okada & Thomas Capuano - Okada & Company
- Tenant's Representative: Joshua Berg - Newmark
This transaction involves key individuals such as Joseph J. Sitt, representing Thor Equities as the landlord. The tenant, Spotter, is represented by Joshua Berg from Newmark. Additionally, Christopher Okada and Thomas Capuano from Okada & Company represent the landlord in this lease agreement.
On the Map
Office
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Players
Market 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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93