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430 East 29th Street

LEASEDOffice

Volastra Therapeutics Leases 18,120 Square Feet At Alexandria Center For Life Science In Midtown South

430 East 29th Street

Building Size

18,120 SF

Asset Type

Office

Closing

Aug 4, 2026

AI

The property involved in this transaction is an office space located at 430 East 29th Street, situated in the Midtown South market. The asset encompasses a total square footage of 18,120, facilitated by Alexandria Real Estate Equities Inc, the landlord in this deal.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not disclosed
  • Address: 430 East 29th Street
  • Market: Midtown South
  • Assets Square Footage: 18,120
  • Landlord: Peter M. Moglia - Alexandria Real Estate Equities Inc
  • Tenant: David P. Southwell - Volastra Therapeutics
  • Brokers: Joseph DeRosa & John Isaacs - CBRE

This transaction involved Volastra Therapeutics signing an 18,120-square-foot sublease at Alexandria Center for Life Science, marking a relocation of their lab operations from West Harlem to the Midtown South area.

Players

John Isaacs

CBRE

Broker

10 deals

Broker

Peter M. Moglia

Alexandria Real Estate Equities Inc

Landlord

$2.2B

vol

16 deals

Landlord

David P. Southwell

Volastra Therapeutics

Tenant

1 deal

Tenant

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

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93