Updated Dec 4, 2024
UnitedHealthcare Leases 6000 Square Feet At One Vanderbilt In Midtown Manhattan For $265 Per Foot
1 Vanderbilt Avenue
$265
$265/SF
Building Size
6,000 SF
Asset Type
Commercial
Closing
Sep 3, 2024
About this deal
AI
One Vanderbilt Avenue is a commercial property located in Midtown Manhattan. Recently, UnitedHealthcare leased 6,000 square feet at this asset for approximately $265 per square foot, completing the leasing of the tower which is now fully occupied. The building is recognized as one of New York City’s premier office buildings, with asking rents on its higher floors reaching up to $320 per square foot.
Summary of transaction details:
- Property Type: Commercial
- Transaction Amount: $265/ft
- Square Footage: 6,000 SF
- Address: 1 Vanderbilt Avenue
- Market: Midtown Manhattan
- Landlord: Marc Holliday - SL Green
- Tenant: UnitedHealthcare
- Brokers: Andrew Coe, Lisa Kiell & Margaux Kelleher - JLL
The transaction included Marc Holliday representing SL Green as the landlord while Andrew Coe, Lisa Kiell, and Margaux Kelleher from JLL represented UnitedHealthcare in the leasing deal. This agreement fills the last remaining office space in One Vanderbilt.
On the Map
$265
$265/SF
Commercial
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Players
New York Commercial Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
59860.38%
Cash-on-Cash
-17108.28%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93