EQT Partners Expands Midtown Manhattan Office Lease At 245 Park Avenue To 114562 Square Feet
245 Park Avenue
Building Size
114,562 SF
Asset Type
Office
Closing
Dec 22, 2025
AI
The property involved in this lease transaction is an office space located at 245 Park Avenue in Midtown Manhattan, covering a total area of 114,562 square feet. EQT Partners has expanded its office space by 38,358 square feet, now occupying the 32nd to 34th floors of the building.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 245 Park Avenue
- Market: Midtown Manhattan
- Landlord: Marc Holliday - SL Green
- Tenant: Per Franzén - EQT Partners
- Brokers: Pierce Hance, Michael Movshovich, Ethan Silverstein, Bruce Mosler, Harry Blair, Ron Lo Russo & Justin Royce - Cushman & Wakefield
This transaction reflects the collaboration among several key individuals, including Marc Holliday, who represents SL Green, and Per Franzén of EQT Partners. The brokerage team from Cushman & Wakefield involved in this deal includes Pierce Hance, Michael Movshovich, Ethan Silverstein, Bruce Mosler, Harry Blair, Ron Lo Russo, and Justin Royce.
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