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
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