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150 5th Avenue

Bam Labs Leases 11,321 Square Feet At 150 Fifth Avenue In Manhattan's Flatiron District
LEASEDOffice

Bam Labs Leases 11,321 Square Feet At 150 Fifth Avenue In Manhattan's Flatiron District

150 5th Avenue

Building Size

11,321 SF

Asset Type

Office

Closing

Sep 22, 2025

AI

The asset involved in this transaction is an office space located at 150 5th Avenue in the Flatiron District of Manhattan. The property comprises 11,321 square feet and is situated within a fully renovated landmark building that is now fully leased, accommodating tenants such as Mastercard, Ganni, and New Balance.

Summary of transaction details:

Bam Labs, a fitness company based in Madrid, has signed a 15-year lease for its first U.S. location, which is set to open in the fall of 2026. The representatives involved in facilitating this transaction for the landlord were Alan Schmerzler, Sean Moran, Catherine Merck, and Patrick O’Rourke from Cushman & Wakefield, while Noah Jay and Michael Yadgard from Compass represented the tenant.

Players

Michael Yadgard

Compass

Broker

$31.8M

vol

13 deals

Broker
L&L Holding Company
L&L Holding CompanyLandlord

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