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125 Park Avenue

Barry M. Gosin Of Newmark Signs 15-Year Lease Renewal At SL Green's 125 Park Avenue
LEASEDOffice

Barry M. Gosin Of Newmark Signs 15-Year Lease Renewal At SL Green's 125 Park Avenue

125 Park Avenue

Building Size

184,239 SF

Asset Type

Office

Closing

Mar 3, 2025

AI

The property involved in this transaction is located at 125 Park Avenue in Midtown Manhattan, offering a total of 184,239 square feet of office space. The asset is owned by SL Green, a prominent entity in the real estate market.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not disclosed
  • Lease Term: 15-year renewal & expansion
  • Landlord: Steven Durels & Marc Holliday - SL Green
  • Tenant: Barry M. Gosin - Newmark
  • Brokers: Brian Waterman & Jason Perla - Newmark

This lease agreement signifies Newmark's commitment to its presence in Midtown, as they have increased their headquarters at this notable location. The deal reflects the ongoing strong demand for office spaces in the Midtown Manhattan market.

Players

Brian Waterman

Newmark

Broker

$300.4M

vol

30 deals

Broker
Marc Holliday

Marc Holliday

SL Green

Landlord

$9.6B

vol

40 deals

Landlord
SL Green
SL GreenLandlord
Newmark
NewmarkTenant

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