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360 Park Avenue South

Grammarly Signs Lease For 23038 Square Feet With Landlord BXP At 360 Park Avenue South
LEASEDOffice

Grammarly Signs Lease For 23038 Square Feet With Landlord BXP At 360 Park Avenue South

360 Park Avenue South

Building Size

23,038 SF

Asset Type

Office

Closing

Sep 2, 2025

AI

The property asset involved in this transaction is an office space located at 360 Park Avenue South, situated in the Midtown South market of Manhattan. The leased area spans 23,038 square feet. The Landlord for this property is BXP, represented by Owen D. Thomas. The Tenant, Grammarly, is relocating from its current office at 29 West 30th Street.

Summary of transaction details:

The transaction features key figures such as Shishir Mehrotra representing Grammarly and Owen D. Thomas from BXP managing the leasing aspect. The deal also includes the involvement of multiple representatives from CBRE and JLL, ensuring a comprehensive approach to the leasing process.

Players

Kyle Riker

JLL

Broker

11 deals

Broker
CBRE
CBREBrokerage
JLL
JLLBrokerage

Owen D. Thomas

BXP

Landlord

$2B

vol

20 deals

Landlord

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