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277 Park Ave, New York, NY ...

Updated Nov 28, 2024

Affinius Capital Signs 12-Year Lease For 24,394 SF Office Space At 277 Park Avenue
LEASEDOffice

Affinius Capital Signs 12-Year Lease For 24,394 SF Office Space At 277 Park Avenue

277 Park Ave, New York, NY 10172, USA

$115

$115/SF

Building Size

24,394 SF

Asset Type

Office

Closing

Jul 10, 2023

About this deal

AI

Affinius Capital, a private equity firm, will be relocating its offices to 277 Park Avenue in New York. The firm has signed a 12-year lease for the entire 39th floor, comprising 24,394 square feet, in the building owned by The Stahl Organization. This deal marks an important move for Affinius Capital in expanding its presence in the city.

Summary of transaction details

At the heart of this transaction lies Affinius Capital's decision to lease 24,394 square feet on the 39th floor of the renowned office building, 277 Park Avenue. The Stahl Organization, the landlord, facilitated the agreement, representing a strategic move for both parties involved. The lease term of 12 years indicates Affinius Capital's commitment to establishing a long-term presence in this prime location within the New York market.

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$115

$115/SF

Office

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Players

David Falk
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David Falk

Newmark

Broker

64 deals

Broker

Peter Shimkin

Newmark

Broker

$10M

vol

34 deals

Broker
SO
Stahl OrganizationLandlord
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About $115 per square foot on a published $115 for 24,394 square feet (2023).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

137939.13%

Cash-on-Cash

-39423.43%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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