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299 Park Avenue

Tailwind Management Leases 14,000 Square Feet At 299 Park Avenue In Midtown Manhattan
LEASEDOffice

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:

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

David Falk
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David Falk

Newmark

Broker

61 deals

Broker

Peter Shimkin

Newmark

Broker

$10M

vol

33 deals

Broker
Newmark
NewmarkBrokerage
Winston Fisher

Winston Fisher

Fisher Brothers

Landlord

$1.6B

vol

18 deals

Landlord
Fisher Brothers
Fisher BrothersLandlord

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