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101 Park Avenue

Mark L. Morris Of Fox Rothschild Expands Lease To 75K Sq. Ft. At 101 Park Avenue
LEASEDOffice

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

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:

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.

Players

Mark Weiss

Cushman & Wakefield

Broker

$264.6M

vol

16 deals

Broker
H.J. Kalikow & Co
H.J. Kalikow & CoBrokerage
H.J. Kalikow & Co
H.J. Kalikow & CoLandlord
Mark L. Morris

Mark L. Morris

Fox Rothschild

Tenant

1 deal

Tenant

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

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93