AECOM Leases Office Space At 2 Park Avenue In Manhattan With JLL And Cushman & Wakefield
2 Park Avenue
Building Size
7,490 SF
Asset Type
Nursing Home
Closing
Jun 10, 2024
AI
The nursing home located at 2 Park Avenue in Manhattan spans a total of 7,490 square feet. The lease transaction involved AECOM leasing 17,490 square feet of office space from landlord PPF Off Two Park Avenue. JLL acted as the tenant's representative, while Cushman & Wakefield represented the landlord.
Summary of transaction details:
- Property Type: Nursing Home
- Transaction Amount: Not provided
- Address: 2 Park Avenue
- Market: Manhattan
- Tenant: AECOM
- Landlord: PPF Off Two Park Avenue
- Landlord's Rep: Mitchell Arkin, Peter Trivelas & Tara Stacom - Cushman & Wakefield
- Tenant's Rep: Edward DiTolla, Henry Warner & William Korchak - JLL
The deal's key individuals included Mitchell Arkin, Peter Trivelas, and Tara Stacom from Cushman & Wakefield representing the landlord, along with Edward DiTolla, Henry Warner, and William Korchak from JLL representing AECOM. The collaboration between these representatives facilitated the successful lease of office space at 2 Park Avenue in Manhattan.
Players
New York Nursing Home Market Snapshot
Boundary boundary · Nursing Home · 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