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
About this deal
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:
- Property Type: Office
- Transaction Amount: $82/ft
- Square Footage: 20,000
- Address: 10 Grand Central
- Market: Midtown Manhattan
- Landlord: Craig Deitelzweig - Marx Realty
- Tenant: Sam Shaw - Riveron
- Landlord's Representative: Carlee Palmer, Mitchell Konsker, Thomas Swartz & Nicole Danyi - JLL
- Tenant's Representative: Peter Trivelas & Dan Fisk - Cushman & Wakefield
- Lease Term: 10-year lease
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.
On the Map
$82
$82/SF
Office
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Players
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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