Cushman & Wakefield Arranges 50,000 SF Office Lease At 277 Park Avenue
277 Park Avenue
Building Size
50,000 SF
Asset Type
Office
Closing
Mar 19, 2024
About this deal
AI
Located at 277 Park Avenue in Midtown Manhattan, this office space spans 50,000 square feet on the 15th floor of the building. The landlord, Maarten Heijbroek of Stahl Organization, finalized a lease with Sumitomo Corp.
Summary of transation details:
- Property Type: Office
- Transaction Amount: Not provided
- Address: 277 Park Avenue
- Market: Midtown Manhattan
- Landlord: Maarten Heijbroek - Stahl Organization
- Tenant: Sumitomo Corp
Cushman & Wakefield, represented by Bryan Boisi, Mark Boisi, and Stephen Bellwood, acted as the landlord's representatives in the deal. On the other side, Eva Shih and Marc Shapses from Savills served as the tenant's representatives for the lease agreement.
On the Map
Office
View full map
Players
New York Office Market Snapshot
Boundary boundary · Office · Lease transactions
Loading comparables…
Deal FAQ
Browse New York office leases on Traded.
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