Bernhardt Furniture Renews Lease At 136 Madison Ave, Manhattan With Williams Equities
136 Madison Avenue
Building Size
20,000 SF
Asset Type
Office
Closing
May 20, 2024
AI
Located at 136 Madison Avenue in Manhattan, the office asset comprising of 20,000 square feet has been the subject of a lease transaction involving the renewal and extension by Bernhardt Furniture. The lease was facilitated under the ownership of Williams Equities.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Landlord: Williams Equities
- Tenant: Bernhardt Furniture
- Tenant's REP: Peter Sabesan & Matthew Feige
- Brokers: Matthew Feigen - Cresa & Peter Sabesan
CRESA's Peter Sabesan and Matthew Feigen played the key role in representing Bernhardt Furniture during the lease renewal and extension deal for the 20,000 square feet of office space at 136 Madison Avenue in Manhattan under the ownership of Williams Equities.
Players
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