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320 Park Avenue

EXLservice Holdings Signs 10-Year Lease Expansion At Munich Re’s 320 Park Avenue In Midtown Manhattan
LEASEDOffice

EXLservice Holdings Signs 10-Year Lease Expansion At Munich Re’s 320 Park Avenue In Midtown Manhattan

320 Park Avenue

Building Size

30,000 SF

Asset Type

Office

Closing

Jan 7, 2026

AI

The asset involved in this transaction is an office space located at 320 Park Avenue in Midtown Manhattan. The total square footage of the office is 30,000, which includes the renewal of EXLservice Holdings' lease on the 29th floor and the expansion onto the 22nd floor.

Summary of transaction details:

Key individuals involved in this transaction include David Kleiner, Frank Doyle, and Carlee Palmer representing the landlord Munich RE through JLL. On the tenant side, Scott Bogetti and Meghan Marchini represented EXLservice Holdings with Savills in this lease agreement.

Players

Frank Doyle

JLL

Broker

$538.2M

vol

26 deals

Broker
MR
Munich RELandlord

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