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3 Times Sq

LEASEDOffice

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

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:

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.

Players

Michael Rudin

Rudin Management Company

Landlord

$5.5B

vol

26 deals

Landlord
J
JAMSTenant

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