The asset involved in this transaction is a condominium located at 432 Park Avenue in Midtown Manhattan. The property has an asking rent of $188 per square foot and encompasses a total space of 4,462 square feet. The monthly rent agreed upon for this lease is $70,000, with a lease term set for one year under a single net lease agreement.

Summary of transaction details:

• Property Type: Condo
• Transaction Amount: $70,000 monthly rent
• Address: 432 Park Avenue
• Market: Midtown Manhattan
• Lease Term: 1 Year
• Lease Type: Single Net Lease
• Landlord: Douglas Stewart
• Tenant: Joseph Arnaz
• Brokers: Michael Lorber & Alexander Boriskin - Douglas Elliman

The brokers involved in this transaction include Michael Lorber and Alexander Boriskin, who operate under Douglas Elliman. They successfully found a tenant and executed the lease within 28 days, highlighting their efficiency in managing this rental agreement.