JAMS Leases 55,000 Square Feet Office Space At 3 Times Square From Rudin Management Company
3 Times Sq
Building Size
55,000 SF
Asset Type
Office
Closing
Aug 2, 2026
About this deal
AI
The property involved in the transaction is an office asset located at 3 Times Square in Manhattan. The total square footage of the asset is 55,000, and it contributes to the overall occupancy of the Rudin-owned office tower, which is now at 75%. JAMS, the tenant, is set to occupy the space across two full floors and will be relocating from its previous location at 620 Eighth Ave. in the fourth quarter of 2027.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 3 Times Square
- Market: Manhattan
- Landlord: Samantha Rudin Earls & Michael Rudin - Rudin Management Company
- Tenant: JAMS
The key individuals in this transaction include landlords Samantha Rudin Earls and Michael Rudin, who are associated with the Rudin Management Company. JAMS will be transitioning to this new space as part of its operational strategies, significantly impacting the occupancy levels of the office tower as well.
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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