JaySuites Acquires Office Building In Manhattan For $58M With Lessor HBC
15 West 38th Street
900,000 SF
Summary
The recently closed property transaction at 15 West 38th Street, Manhattan, NY involved a triple net lease deal for an office asset. The property spans across 90,000 square feet and was sold for a price of $58,000,000. The landlord, The Rosen Group, leased the property to HBC - Hudson's Bay Co., with Richard Baker representing the lessor. On the other hand, @JaySuites, represented by Jack and Juda Srour, acted as the lessee. The broker involved in the transaction was Sean Black.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $58,000,000
- Address: 15 West 38th Street, Manhattan, NY
- Square Footage: 90,000 SF
- Landlord: The Rosen Group
- Lesser: HBC - Hudson's Bay Co. - Richard Baker
- Lessee: @JaySuites - Jack & Juda Srour
- Broker: Sean Black
In this deal, Jack and Juda Srour, along with Sean Black as their broker, represented @JaySuites as the lessee. On the other side, Richard Baker represented HBC - Hudson's Bay Co. as the lessor. The transaction reflects the growing demand for office assets in the area, with 15 West 38th Street being a prime location for businesses.
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