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10 Grand Central

Riveron Leases 20,000 Square Feet At 10 Grand Central From Marx Realty In Midtown Manhattan
LEASEDOffice

Riveron Leases 20,000 Square Feet At 10 Grand Central From Marx Realty In Midtown Manhattan

10 Grand Central

$82

$82/SF

Building Size

20,000 SF

Asset Type

Office

Closing

May 5, 2025

AI

The property involved in the transaction is an office space located at 10 Grand Central in Midtown Manhattan. The asset spans 20,000 square feet and has an asking rent of $82 per square foot. The lease term established for this office is 10 years.

Summary of transaction details:

Riveron, represented by Peter Trivelas and Dan Fisk from Cushman & Wakefield, has signed a lease for its new NYC office, relocating from 461 Fifth Avenue. The landlord, Craig Deitelzweig of Marx Realty, was represented by Carlee Palmer, Mitchell Konsker, Thomas Swartz, and Nicole Danyi at JLL.

Players

Carlee Palmer

JLL

Broker

19 deals

Broker
JLL
JLLBrokerage
Craig Deitelzweig

Craig Deitelzweig

Marx Realty

Landlord

$5.1M

vol

8 deals

Landlord

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

193451.22%

Cash-on-Cash

-55288.95%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93