Lazzoni NYC Leases Office Space At 145 Madison Avenue In Manhattan With VCPRE And RKF Brokers
145 Madison Avenue, New York, NY 10016
Building Size
2,850 SF
Asset Type
Office
Closing
Sep 13, 2018
AI
145 Madison Avenue, an office space located in Manhattan, New York, was recently leased to @lazzoninyc. The lease transaction was facilitated by brokers Jeremy Nazarian and Ali Reslan from VCPRE, along with Michael Paster and Carly Geller from RKF. The landlord, Alex Kahen of Kahen Properties, agreed to a 15-year lease term.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $540K per year
- Square Footage: 2,850 SF
- Tenant: @lazzoninyc
- Landlord: @AlexKahen, Kahen Properties
- Tenant's Brokers: Jeremy Nazarian, Ali Reslan (VCPRE)
- Landlord's Brokers: Michael Paster, Carly Geller (RKF)
The lease was secured at a rate of $190 per square foot, resulting in an annual payment of $540,000. This long-term lease agreement will provide @lazzoninyc with a spacious 2,850 square feet of office space at 145 Madison Avenue.
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