LEASEDOffice
Grassi Signs Nine-Year Lease For 25,000 Square Feet At 360 Madison Avenue In Midtown East
360 Madison Avenue
Building Size
25,000 SF
Asset Type
Office
Closing
Jan 7, 2025
AI
360 Madison Avenue is an office asset located in Midtown East, offering an expansive space of 25,000 square feet on the seventh floor.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 360 Madison Avenue
- Market: Midtown East
- Landlord: Axel Stawski - Stawski Partners
- Tenant: Louis Grassi - Grassi
- Broker: Mitti Liebersohn - Savills
Accounting firm Grassi will relocate its New York City headquarters to this address, having signed a nine-year lease.
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