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375 Park Ave, New York City...

Blue Owl Capital Leases Office Space At 375 Park Avenue In New York With Landlord's Rep RFR Holding - AJ Camhi
LEASEDOffice

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.

Players

Mark Weiss

Cushman & Wakefield

Broker

$264.6M

vol

16 deals

Broker
Blue Owl
Blue Owl Lender
RFR
RFRLandlord
Marc Lipschultz

Marc Lipschultz

Tenant

$8.3B

vol

5 deals

Tenant

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