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1 Madison Ave, New York, NY...

IBM Leases 328000 Square Feet At 1 Madison Ave New York Represented By Josh Kuriloff
LEASEDOffice

IBM Leases 328000 Square Feet At 1 Madison Ave New York Represented By Josh Kuriloff

1 Madison Ave, New York, NY, 10010

Building Size

328,000 SF

Asset Type

Office

Closing

Mar 15, 2022

AI

The property involved in this lease transaction is located at 1 Madison Ave, New York, NY, 10010. This space encompasses a total of 328,000 square feet within the New York market.

Summary of transaction details:

Key individuals in this transaction include Josh Kuriloff representing IBM, who played a crucial role in facilitating the lease with SL Green, the landlord. Each party navigated the terms of the agreement to finalize the leasing of the specified property.

Players

Josh Kuriloff

Cushman & Wakefield

Broker

$85.4M

vol

17 deals

Broker
SL Green
SL GreenLandlord

New York 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