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:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 360 Lexington Avenue
- Market: Murray Hill
- Landlord: Jonathan Bennett - AmTrust RE
- Tenant: Webster Bank
- Brokers: Andrew Saunders, Barbara Winter, Benjamin Bass, Jeff Szczapa, Mitchell Konsker & Thomas Swartz - JLL
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
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