Eyal Ofer's Global Holdings Management Group Leases 94,000 Square Feet To Amalgamated Bank
99 Park Avenue
Building Size
—
Asset Type
Mixed-use
Closing
Apr 14, 2025
AI
The property asset involved in the transaction is a mixed-use building located at 99 Park Avenue in the Murray Hill market. Amalgamated Bank has secured a lease for 94,000 square feet within this property for a term of 15 years.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: Not specified
- Address: 99 Park Avenue
- Market: Murray Hill
- Landlord: Eyal Ofer - Global Holdings Management Group
- Tenant: Amalgamated Bank
- Lease Term: 15 years
- Landlord's Representatives: Alexander Radmin & Craig Panzirer - Global Holdings Management Group; Diana Biasotti, Harrison Potter, Kristen Morgan & Paul Glickman - JLL
- Tenant's Representatives: Christopher Kraus & Daoud Awad - JLL
The deal marks a significant achievement for Global Holdings Management Group, as it secures its largest lease to date. The involvement of multiple representatives from both the landlord and tenant sides illustrates a coordinated effort to finalize the lease agreement for the sizable space at 99 Park Avenue.
Players
New York Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Lease transactions
Loading comparables…
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