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386 Park Avenue South

Jamie Hodari Of Cushman & Wakefield Leases 23,000 Square Feet Office At 386 Park Avenue South
LEASEDOffice

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

Eric Cagner

Newmark

Broker

27 deals

Broker
Industrious
IndustriousTenant

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