Owen D. Thomas Of Boston Properties Leases 275000 SF Office To Starr At 343 Madison Avenue
343 345 Madison Avenue
Building Size
275,000 SF
Asset Type
Office
Closing
Jan 7, 2026
About this deal
AI
The asset involved in this transaction is an office space located at 343 Madison Avenue in Midtown Manhattan. The property encompasses 275,000 square feet and is part of a larger 930,000-square-foot building.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not disclosed
- Address: 343 Madison Avenue
- Market: Midtown Manhattan
- Landlord: Owen D. Thomas - Boston Properties
- Tenant: Starr
- Landlord's Representative: Peter Turchin, John Maher, Evan Haskell & Caroline Merck - CBRE
- Tenant's Representative: John Picco, Peter Van Duyne & Alex Lachmund - Cushman & Wakefield
BXP has signed a 20-year lease agreement with Starr, allowing the insurance and investment firm to occupy floors 16–27 of the property for its New York headquarters.
On the Map
Office
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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