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
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