The property asset involved in the transaction is located at 16 Madison Avenue in the Flatiron District. This office space encompasses 24,005 square feet with an asking rent of $59 per square foot.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $59/ft
• Address: 16 Madison Avenue
• Market: Flatiron District
• Landlord: Adams & Company
• Tenant: David Bridges - Wellcom Worldwide
• Landlord's Representative: Jeffrey Buslik - Adams & Company
• Tenant's Representative: Adam Henick - Current Real Estate Advisors
• Square Footage: 24,005
• Lease Duration: 10 years

The lease was signed by Wellcom Worldwide, which marks its return to Manhattan after previously occupying space at 175 Pearl Street in Brooklyn's Dumbo neighborhood. The tenant's move was influenced by an office-to-residential conversion occurring at their former location.