LEASEDOffice
SFA Agency Signs 10-Year Lease Extension At 1 Battery Park Plaza In Midtown Manhattan
Building Size
5,170 SF
Asset Type
Office
Closing
Jun 16, 2026
AI
The asset involved in this transaction is an office property located at 1 Battery Park Plaza in Midtown Manhattan. SFA Agency has signed a lease extension for a total of 14,071 square feet of space, which includes an expansion of 5,170 square feet. The tenant will be relocating within the building from the 33rd floor to the 25th floor, with the lease extension encompassing a term of 10 years.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not disclosed
- Address: 1 Battery Park Plaza
- Market: Midtown Manhattan
- Landlord: Michael Rudin - Rudin Management Company
- Tenant: SFA Agency
- Brokers: Kevin Daly - Rudin Management Company & Scott Vinett - Savills
- Lease Terms: 10-year extension
This transaction involves key representatives including Michael Rudin from Rudin Management Company, who serves as the landlord, alongside the appointed brokers Kevin Daly from Rudin Management Company and Scott Vinett from Savills. The strategic decision by SFA Agency to expand their footprint signifies an important shift in their operations within the Midtown Manhattan office market.
Players
Market Office Market Snapshot
Boundary boundary · Office · 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