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
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