Ziff Davis Leases Office Space At 360 Park Avenue South In Midtown South
360 Park Avenue South
$110
$110/SF
Building Size
23,038 SF
Asset Type
Office
Closing
Jun 11, 2024
AI
Located at 360 Park Avenue South, the office space involved in this transaction spans 23,038 square feet in Midtown South. The leasing agreement between BXP and Ziff Davis resulted in a five-and-a-half-year lease term with an asking rent of $110 per square foot.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Landlord: BXP
- Tenant: Ziff Davis
- Brokers: Arkady Smolyansky, Gregg Rothkin, Hayden Pascal, Jeffrey Fischer, Peter Turchin, Ross Zimbalist, Sacha Zarba & Trevor Larkin - CBRE
Ziff Davis, known for brands like Mashable and Lifehacker, chose to relocate its headquarters from 114 Fifth Avenue to 360 Park Avenue South, signifying a transition to a more contemporary workspace. The move was made possible by the joint representation of CBRE for both the tenant and the landlord, BXP.
Players
New York Office Market Snapshot
Boundary boundary · Office · Lease transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
144209.09%
Cash-on-Cash
-41215.40%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93