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:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 320 Park Avenue
- Market: Midtown Manhattan
- Landlord: Munich RE
- Tenant: EXLservice Holdings
- Landlord's Representative: David Kleiner, Frank Doyle & Carlee Palmer - JLL
- Tenant's Representative: Scott Bogetti, Meghan Marchini - Savills
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
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