Gentry Long Of Industrious Leases Additional 51,600 Square Feet At Tower 49 In Midtown Manhattan
12 East 49th Street
Building Size
291,600 SF
Asset Type
Office
Closing
Mar 16, 2026
About this deal
AI
The asset involved in this transaction is an office space located at 12 East 49th Street in Midtown Manhattan. The space has a total square footage of 291,600 and is part of a larger development within the area. The landlord of the property is Kato International.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 12 East 49th Street
- Market: Midtown Manhattan
- Landlord: Kato International
- Tenant: Gentry Long - Industrious
- Leased Space: 51,600 square feet
- Total Space Leased by Tenant: 291,600 square feet
- Floors Occupied: 18
- Date: 03/16/2026
Gentry Long represents Industrious in this transaction as they expand their footprint at Tower 49. The deal involves leasing additional office space to accommodate the growing business needs of Industrious within the Midtown Manhattan market.
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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