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142 West 57th Street

Bayview Asset Management Expands Lease At Metropolitan Tower In Manhattan To 46,000 Square Feet
LEASEDOffice

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

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.

Players

Mark Weiss

Cushman & Wakefield

Broker

$264.6M

vol

16 deals

Broker
Cushman & Wakefield
Cushman & WakefieldBrokerage

Michael Kirchmann

GDSNY

Landlord

$95.2M

vol

6 deals

Landlord
Sabal Investment Holdings
Sabal Investment HoldingsLandlord
GDSNY
GDSNY Landlord

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