Tishman Speyer Leases 20000 Square Feet At 10 E 54th St With Adam Doneger As Tenant's Rep
10 E 54th St, New York, NY, 10022
Building Size
20,000 SF
Asset Type
Office
Closing
May 1, 2019
About this deal
AI
The property involved in this transaction is located at 10 E 54th St, New York, NY, 10022. It consists of 20,000 square feet situated on the 35th floor of the one million-square-foot office building managed by Tishman Speyer. The leasing of this space is part of Madison Realty Capital's move to establish its headquarters in the building.
Summary of transaction details:
- Property Type: Lease
- Transaction Amount: Not specified
- Address: 10 E 54th St, New York, NY, 10022
- Market: New York
- Tenant's Representative: Adam Doneger-Newmark
- Tenant: Madison Realty Capital
- Landlord: Tishman Speyer
- Square Feet: 20,000
The leasing decision aligns with Madison Realty Capital's expansion strategy, as noted by its managing principal, Josh Zegen. A Cushman Wakefield team, which included Adam Doneger, Anthony LoPresti, and Ethan Silverstein, represented Madison in this lease agreement.
Players
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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