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Phipps Houses Signs 32-Year Office Lease At 257 Park Avenue South In Manhattan
LEASED
+ 2
New York
See Similar DealsOffice38,862 SF
Leased 07/31/2024
LEASED
Phipps Houses Signs 32-Year Office Lease At 257 Park Avenue South In Manhattan
257 Park Avenue South
See Similar DealsOffice38,862 SF
Leased 07/31/2024
+ 2
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$0
Total Square Footage:38,862 SF
Transaction Type:Lease
The property asset involved is an office located at 257 Park Avenue South, Manhattan, with a total square footage of 38,862. The lease is part of the Manhattan market.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 257 Park Avenue South
- Market: Manhattan
- Landlord: Feil Organization
- Tenant: Phipps Houses
- Landlord's Representative: Andrew Wiener & Robert Fisher - The Feil Organization
- Tenant's Representative: Alan Bonett, Bradley Cohn & David Levy - Adams & Company
Phipps Houses, recognized as New York City's oldest affordable housing developer, has entered into a 32-year lease agreement for the office space, moving from a previous location at 902 Broadway.
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Deal Type
NNN (Triple Net)
Effective Rent (Annual)
$2,227,546.39
Total Lease Value
$22,275,463.89
Net Landlord Cash Flow$2,227,546.39
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