Jamie Hodari Of Cushman & Wakefield Leases 23,000 Square Feet Office At 386 Park Avenue South
386 Park Avenue South
Building Size
23,000 SF
Asset Type
Office
Closing
Feb 24, 2026
AI
The property asset involved in this transaction is an office space located at 386 Park Avenue South in Manhattan, featuring a total square footage of 23,000. The lease was signed for the entire 18th and 19th floors.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 386 Park Avenue South
- Market: Manhattan
- Square Footage: 23,000
- Landlord: HSR Corporation
- Tenant: Jamie Hodari - Industrious
- Landlord's Representative: Eric Cagner - Newmark
- Tenant's Representative: Ed Wartels - Cushman & Wakefield
This lease agreement marks the 35th New York City location for Industrious, which will accommodate approximately 160 workers. The deal follows CBRE's recent acquisition of the firm for $400 million.
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