Sioni Group Leases 6,000 SF Office At 290 Madison Avenue To Ferny With LSL Advisors
290 Madison Avenue
$65
$65/SF
Building Size
6,000 SF
Asset Type
Office
Closing
Nov 22, 2024
AI
The property involved in the transaction is located at 290 Madison Avenue in Manhattan, classified as an office asset. The lease type is a Modified Gross Lease with an asking rent of $65 per square foot for a total space of 6,000 square feet.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $65/ft
- Address: 290 Madison Avenue
- Market: Manhattan
- Landlord: Sioni Group
- Tenant: Ferny
- Brokers: Raphael Zar, David Lolai & Daniel Lolai - LSL Advisors
This lease was represented by Raphael Zar, David Lolai, and Daniel Lolai from LSL Advisors, serving as brokers for both the landlord and the tenant during the transaction process.
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
244046.15%
Cash-on-Cash
-69749.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93