Convene Expands With 22,519 SF Lease At 360 Madison Avenue In Midtown
360 Madison Avenue
Building Size
22,519 SF
Asset Type
Office
Closing
Apr 8, 2024
AI
360 Madison Avenue, located in Midtown, Manhattan, was the site of a recent lease transaction involving an office space spanning 22,519 square feet. The property is owned by Stawski Partners and now houses the expanded operations of Convene, led by Brian Holland.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: N/A
- Address: 360 Madison Avenue
- Market: Midtown, Manhattan
- Square Footage: 22,519
- Landlord: Stawski Partners
- Tenant: Brian Holland - Convene
- Broker: Rocco Laginestra - CBRE
Convene's additional lease of 22,519 square feet at 360 Madison Avenue marks a strategic move in expanding its total occupancy within the building to 68,000 square feet across the fourth, fifth, and sixth floors. The deal was facilitated with representation from Rocco Laginestra of CBRE.
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