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145 Madison Avenue, New Yor...

Lazzoni NYC Leases Office Space At 145 Madison Avenue In Manhattan With VCPRE And RKF Brokers
LEASEDOffice

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

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

Carly Geller

Newmark

Broker

10 deals

Broker

Alex Kahen

Kahen Properties

Landlord

$74.9M

vol

9 deals

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