WithCoverage Leases 17,663 Square Feet At 200 Varick Street Creating 205 Jobs
200 Varick Street
Building Size
17,663 SF
Asset Type
Office
Closing
Aug 12, 2026
About this deal
AI
The property involved in this transaction is an office asset located at 200 Varick Street in the Hudson Square market, comprising a total of 17,663 square feet. The transaction is classified as a lease agreement.
Summary of transation details:
- Property Type: Office
- Transaction Amount: Not disclosed
- Address: 200 Varick Street
- Market: Hudson Square
- Landlord: Jeffrey Gural, Eric Gural & Brian Steinwurtzel - GFP Real Estate
- Tenant: WithCoverage
- Brokers: Adam Spector & Derek Feinman - Newmark
- Job Creation: 205 jobs
- Investment: $25 million over five years in NYC research and development
WithCoverage, which focuses on AI-powered insurance technology, will occupy the space as part of their expansion efforts. This lease signifies a substantial commitment to growth in New York City, leveraging the characteristics of the location to enhance their operational capabilities.
On the Map
Office
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Players
New York Office Market Snapshot
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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