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31 West 52nd Street

Mudrick Capital Relocates NYC Headquarters Under 12-Year Lease At 31 West 52nd Street
LEASEDOffice

Mudrick Capital Relocates NYC Headquarters Under 12-Year Lease At 31 West 52nd Street

31 West 52nd Street

Building Size

27,000 SF

Asset Type

Office

Closing

Apr 30, 2025

AI

The property asset involved in this transaction is an office space located at 31 West 52nd Street in Midtown Manhattan, encompassing a total area of 27,000 square feet. The transaction marks a move for Mudrick Capital as they reposition their NYC headquarters under a 12-year lease agreement. The current location at 527 Madison Avenue will no longer be occupied following this relocation.

Summary of transaction details:

This transaction is facilitated by key representatives from both sides, with Andrew Coe, David Kleiner, and Frank Doyle representing the landlord, Paramount Group, while Patrick Heeg and Thomas Hines represent the tenant, Mudrick Capital. The collaboration of these brokers played an essential role in finalizing the relocation deal for the tenant at the specified address.

Players

Frank Doyle

JLL

Broker

$538.2M

vol

26 deals

Broker
OPEN Impact Real Estate
OPEN Impact Real EstateBrokerage
Albert Behler

Albert Behler

Paramount Group

Landlord

$1.3B

vol

12 deals

Landlord

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