Tailwind Management Leases 14,000 Square Feet At 299 Park Avenue In Midtown Manhattan
299 Park Avenue
Building Size
14,000 SF
Asset Type
Office
Closing
Jul 1, 2025
AI
The property asset involved in this transaction is an office space located at 299 Park Avenue in Midtown Manhattan, encompassing a total area of 14,000 square feet.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 299 Park Avenue
- Market: Midtown Manhattan
- Landlord: Kenneth Fisher, Winston Fisher, Sam Rosenberg & Martin Edelman - Fisher Brothers
- Tenant: Tailwind Management
- Landlord's Representatives: David Falk, Peter Shimkin, Andrew Sachs & Eric Cagner - Newmark; Marc Packman & Clark Briffel - Fisher Brothers
- Tenant's Representative: Greg Taubin - Savills
Tailwind Management has relocated from 485 Lexington Ave, securing a lease at this new location. The deal illustrates collaboration between Savills, representing the tenant, and both Newmark and Fisher Brothers’ in-house team, which handled the landlord's interests 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