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261 Madison Ave, New York, ...

Industrious Leases 43874 Square Feet At 261 Madison Ave From Sapir Organization With CBRE's Alice Fair
LEASEDCommercial

Industrious Leases 43874 Square Feet At 261 Madison Ave From Sapir Organization With CBRE's Alice Fair

261 Madison Ave, New York, NY, 10016

Building Size

43,874 SF

Asset Type

Commercial

Closing

Nov 19, 2023

AI

This property asset is located at 261 Madison Ave, New York, NY, 10016. It is situated in the New York market and encompasses a total area of 43,874 square feet. The landlord for this lease transaction is Sapir Organization, while the tenant is Industrious.

Summary of transaction details:

  • Property Type: Lease
  • Transaction Amount: Not disclosed
  • Address: 261 Madison Ave, New York, NY, 10016
  • Market: New York
  • Tenant: Industrious
  • Landlord: Sapir Organization
  • Tenant's Representative: Alice Fair (CBRE)

Key individuals involved in the transaction include Alice Fair, who represents the tenant, Industrious, through CBRE. The landlord, Sapir Organization, plays a critical role in the leasing agreement for the property at this prestigious location.

Players

Timothy Freydberg

CBRE

Broker

10 deals

Broker
SO
Sapir OrganizationLandlord
I
IndustriousTenant

New York Commercial Market Snapshot

Boundary boundary · Commercial · 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