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136 Madison Avenue

Bernhardt Furniture Renews Lease At 136 Madison Ave, Manhattan With Williams Equities
LEASEDOffice

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:

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

Peter Sabesan

Broker

7 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