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600 Lexington Ave, New York...

MKP Capital Management Leases 300000 SF At 600 Lexington Ave With SL Green Realty Corp
LEASED

MKP Capital Management Leases 300000 SF At 600 Lexington Ave With SL Green Realty Corp

600 Lexington Ave, New York, NY, 100...

$85

$85/SF

Building Size

300,000 SF

Asset Type

Closing

Nov 20, 2023

AI

The property involved in this lease transaction is located at 600 Lexington Ave, New York, NY. The space measures 300,000 square feet and is situated within the New York market. The agreed rent is set at $85 per square foot.

Summary of transaction details:

  • Property Type: Lease
  • Transaction Amount: Not specified
  • Address: 600 Lexington Ave, New York, NY, 100...
  • Market: New York
  • Tenant: MKP Capital Management
  • Landlord: SL Green Realty Corp
  • Tenant's Representative: John Mambrino - Savills
  • Landlord's Representative: Larry Swiger
  • Square Feet: 300,000
  • Rent/SF: $85

The deal features two key parties, MKP Capital Management as the tenant and SL Green Realty Corp as the landlord. Representing MKP Capital Management is John Mambrino from Savills, while Larry Swiger represents SL Green Realty Corp in this transaction.

Players

John Mambrino

Savills

Broker

7 deals

Broker
SL Green
SL GreenLandlord

New York CRE Market Snapshot

Boundary boundary · CRE · Lease transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

186623.53%

Cash-on-Cash

-53337.58%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93