American English Center Leases Office Space At 290 Madison Avenue In Midtown Manhattan
290 Madison Avenue, Manhattan, New York, NY, USA
Building Size
5,950 SF
Asset Type
Office
Closing
Jun 1, 2020
About this deal
AI
The office space located at 290 Madison Avenue in Midtown has been leased out. The tenant, American English Center, has signed the lease agreement with the landlord, Jack Yadid of 290 Mad Venture. The lease deal was facilitated by Tony Builder from Walter Samuels Real Estate.
Summary of transaction details
- Property Type: Office
- Transaction Amount: Lease
- Asking Rent: $50 per square foot
- Square Footage: 5,950
- Address: 290 Madison Avenue
- Market: Midtown
It is notable that the lease deal was secured at an asking rent of $50 per square foot for a total space of 5,950 square feet.
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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