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125 Park Avenue

TD Bank Expands Office Space At 125 Park Avenue With 10-Year Lease In Midtown Manhattan
LEASEDOffice

TD Bank Expands Office Space At 125 Park Avenue With 10-Year Lease In Midtown Manhattan

125 Park Avenue

Building Size

26,255 SF

Asset Type

Office

Closing

Oct 18, 2024

AI

The property asset involved in the transaction is located at 125 Park Avenue in Midtown Manhattan, consisting of office space totaling 26,255 square feet. This lease marks a significant expansion for TD Bank within the building.

Summary of transaction details:

This lease agreement brings TD Bank's total occupancy in the building to 130,057 square feet, achieving full occupancy for the property. The representatives from Newmark handled the interests of SL Green, while CBRE represented TD Bank in the transaction.

Players

Brian Waterman

Newmark

Broker

$300.4M

vol

30 deals

Broker

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