World Economic Forum USA Leases 39k SF Office At 350 Madison Ave, NY
350 Madison Ave, New York, NY, 10017
Building Size
39,000 SF
Asset Type
Office
Closing
Mar 8, 2016
AI
The property asset involved in this transaction is an office space located at 350 Madison Ave, New York, NY, 10017. It consists of 39,000 square feet and falls within the New York market. The asking rent for the space was in the $70 per square foot range.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 350 Madison Ave, New York, NY, 10017
- Square Feet: 39,000
- Tenant: World Economic Forum USA
- Landlord: RFR Realty
- Tenant's Representative: Robert Silver, Scott Brown - Newmark
- Landlord's Representative: Alexander Chudnoff - JLL
Key individuals involved in this transaction include the tenant representative team of Robert Silver and Scott Brown from Newmark, who facilitated the lease for the World Economic Forum USA, while Alexander Chudnoff from JLL represented the landlord, RFR Realty, in this 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