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360 Lexington Avenue

Webster Bank Expands Lease At 360 Lexington Avenue To 46,018 Square Feet In Murray Hill
LEASEDOffice

Webster Bank Expands Lease At 360 Lexington Avenue To 46,018 Square Feet In Murray Hill

360 Lexington Avenue

Building Size

46,018 SF

Asset Type

Office

Closing

Mar 31, 2025

AI

The property involved in this transaction is an office asset located at 360 Lexington Avenue in the Murray Hill market. The total square footage of this asset is 46,018 square feet, with Webster Bank expanding its lease by 15,397 square feet across three floors.

Summary of transaction details:

This lease expansion reflects the growing needs of Webster Bank in a prominent location, enhancing their operational presence within the city. The involved brokers from JLL played a crucial role in facilitating the transaction and coordinating between the landlord and tenant representatives.

Players

Benjamin Bass

JLL

Broker

$770M

vol

27 deals

Broker
Jonathan Bennett

Jonathan Bennett

AmTrust RE

Landlord

$322.9M

vol

10 deals

Landlord
Webster Bank
Webster BankTenant

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