Quinn Emanuel Urquhart & Sullivan Signs 132,000 SF Lease At 295 Fifth Avenue In Midtown Manhattan
295 5th Avenue
Building Size
132,000 SF
Asset Type
Office
Closing
Nov 27, 2023
AI
The New York City headquarters of Quinn Emanuel Urquhart & Sullivan is set to move from 51 Madison Avenue to a new location at 295 Fifth Avenue in Midtown Manhattan. The law firm has signed a lease for 132,000 square feet of office space, spanning the eighth through 10th floors of the building. The property is owned by Tribeca Investment Group, PGIM Real Estate, and Meadow Partners.
Summary of transaction details
- Property Type: Office
- Transaction Amount: Not available
- Square Footage: 132,000
- Address: 295 5th Avenue
- Market: Midtown Manhattan
The deal was facilitated by CBRE brokers Brett Shannon, Cara Chayet, David Hollander, Greg Maurer-Hollaender, Hayden Pascal, Lewis Miller, Liz Lash, Mary Ann Tighe, and Peter Turchin. They represented both the landlord and the tenant in the transaction.
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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93