Mark L. Morris Of Fox Rothschild Expands Lease To 75K Sq. Ft. At 101 Park Avenue
101 Park Avenue
Building Size
75,000 SF
Asset Type
Office
Closing
May 22, 2025
About this deal
AI
The asset involved in this transaction is an office space located at 101 Park Avenue in Manhattan, consisting of 75,000 square feet. The lease agreement facilitates Fox Rothschild's expansion in the area, showcasing a significant commitment to the property through a long-term arrangement. The terms of the lease were restructured to ensure stability through the year 2037.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not disclosed
- Location: 101 Park Avenue, Manhattan
- Lease Term: 12 years
- Landlord: Peter Kalikow - H.J. Kalikow & Co
- Tenant: Mark L. Morris - Fox Rothschild
- Brokers: Mark Weiss & John Cefaly - Cushman & Wakefield
The individuals involved in the transaction include Peter Kalikow representing the landlord, and Mark L. Morris representing the tenant, Fox Rothschild. The brokers, Mark Weiss and John Cefaly from Cushman & Wakefield, facilitated the lease negotiation, representing both parties in the transaction process.
On the Map
Office
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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