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:
- Property Type: Lease
- Transaction Amount: Not disclosed
- Tenant: IBM
- Landlord: SL Green
- Tenant's Representative: Josh Kuriloff, Cushman & Wakefield
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
New York Office Market Snapshot
Boundary boundary · Office · 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