Bayview Asset Management Expands Lease At Metropolitan Tower In Manhattan To 46,000 Square Feet
142 West 57th Street
Building Size
—
Asset Type
Office
Closing
Jul 15, 2025
About this deal
AI
The asset is an office property located at 142 West 57th Street in the Manhattan market. The type of lease involved is for 46,000 square feet of space, expanded from a previous lease by Bayview Asset Management.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Square Footage: 46,000 SF
- Address: 142 West 57th Street
- Market: Manhattan
- Landlord: Michael Kirchmann - GDSNY & Pat Jackson - Sabal Investment Holdings
- Tenant: David Ertel - Bayview Asset Management
- Broker: Mark Weiss - Cushman & Wakefield
- Leases running through: 2040
Michael Kirchmann from GDSNY and Pat Jackson from Sabal Investment Holdings represent the landlords in this transaction, while David Ertel from Bayview Asset Management is the tenant expanding its lease. Mark Weiss from Cushman & Wakefield acted as the broker facilitating the lease agreement.
On the Map
Office
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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