Blue Owl Capital Leases Office Space At 375 Park Avenue In New York With Landlord's Rep RFR Holding - AJ Camhi
375 Park Ave, New York City, New York 10022, United States
Building Size
137,660 SF
Asset Type
Office
Closing
Sep 13, 2022
AI
Blue Owl Capital, represented by Mark Weiss of Cushman & Wakefield, has signed a lease for office space located at 375 Park Avenue in New York. The landlord, RFR Holding, was represented by a team from JLL including Paul Milunec, Peter Riguardi, Paul Glickman, Cynthia Wasserberger, and Ben Bass. The lease transaction was completed on September 14, 2022. The office space spans approximately 137,660 square feet, with an asking rent of $200 per square foot.
Summary of transaction details
- Property Type: Office
- Transaction Amount: Not specified
- Address: 375 Park Avenue, New York
- Market: New York
The lease agreement was signed between Blue Owl Capital, represented by Mark Weiss, and RFR Holding, represented by Paul Milunec, Peter Riguardi, Paul Glickman, Cynthia Wasserberger, and Ben Bass. This transaction highlights the collaboration between two prominent firms in securing office space in New York City.
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