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183 Madison Avenue

Thirty Madison Leases 15,440 SF Office Space At 183 Madison Ave
LEASEDOffice

Thirty Madison Leases 15,440 SF Office Space At 183 Madison Ave

183 Madison Avenue

Building Size

15,440 SF

Asset Type

Office

Closing

Mar 4, 2024

AI

183 Madison Avenue in Manhattan is now home to Thirty Madison, an online healthcare provider specializing in hair-loss treatment and other medical services. The office space spans 15,440 square feet and was leased by the tenant for a two-year term.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not specified
  • Landlord: Kenneth Aschendorf - APF Properties
  • Tenant: Thirty Madison
  • Landlord's Rep: Sean Kearns - CBRE
  • Tenant's Rep: Gabe Marans - Savills

Sean Kearns of CBRE represented the landlord, Kenneth Aschendorf of APF Properties, in the lease deal. Gabe Marans from Savills acted as the tenant's representative on behalf of Thirty Madison, securing the office space for the online healthcare provider.

Players

Sean Kearns

CBRE

Broker

2 deals

Broker

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