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560 Lexington Avenue

Industrious Expands Manhattan Presence With 20,000 Square Foot Lease At 560 Lexington Avenue
LEASEDOffice

Industrious Expands Manhattan Presence With 20,000 Square Foot Lease At 560 Lexington Avenue

560 Lexington Avenue

Building Size

20,000 SF

Asset Type

Office

Closing

Mar 11, 2025

AI

The property involved in this transaction is an office space located at 560 Lexington Avenue in Manhattan. The lease encompasses a total square footage of 20,000. This asset serves as a coworking hub, enhancing the presence of the tenant in the Manhattan market.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not specified
  • Address: 560 Lexington Avenue
  • Market: Manhattan
  • Landlord: Samantha Rudin Earls & Michael Rudin
  • Tenant: Douglas Feinberg & Jamie Hodari
  • Landlord's Representative: Kevin Daly
  • Tenant's Representative: Ben Bouganim, Ed Wartels & Justin Halpern

This lease transaction was facilitated by the landlords, Samantha Rudin Earls and Michael Rudin, representing Rudin, while the tenants, Douglas Feinberg and Jamie Hodari, represent Industrious. The landlord's interests were represented by Kevin Daly, and the tenants were represented by Ben Bouganim, Ed Wartels, and Justin Halpern from Cushman & Wakefield.

NOTE: Industrious signed a 20,000-square-foot lease at 560 Lexington Avenue, expanding its Manhattan coworking presence.

Players

Kevin Daly

Broker

3 deals

Broker
CBRE
CBREBrokerage
Michael Rudin

Michael Rudin

Rudin Management Company

Landlord

$2.1B

vol

23 deals

Landlord

Jamie Hodari

Industrious

Tenant

11 deals

Tenant

East Lansing 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