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
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