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389 9th Avenue, New York Ci...

KPMG Signs Lease For Office Space At 389 9th Ave. In Midtown Manhattan
LEASEDOffice

KPMG Signs Lease For Office Space At 389 9th Ave. In Midtown Manhattan

389 9th Avenue, New York City, New York 10001, United States

Building Size

450,000 SF

Asset Type

Office

Closing

Aug 19, 2022

AI

The office property located at 389 9th Ave. in Midtown has been leased. The property spans a total of 450,000 square feet and is owned by Brookfield Properties, represented by Brian Kingston. The tenant for this lease is KPMG. The leasing transaction was facilitated by a team of brokers including Michael Geoghegan and Lewis Miller from CBRE, Jeremiah Larkin and Duncan McCuaig from Brookfield Properties, and Cushman & Wakefield.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: N/A
  • Address: 389 9th Ave.
  • Market: Midtown

The key individuals and companies involved in this lease transaction are Brian Kingston from Brookfield Properties, representing the landlord, and KPMG as the tenant. The lease was facilitated by a team of brokers including Michael Geoghegan and Lewis Miller from CBRE, and Jeremiah Larkin and Duncan McCuaig from Brookfield Properties, along with Cushman & Wakefield.

Players

Michael Geoghegan

CBRE

Broker

6 deals

Broker
Brookfield Properties
Brookfield PropertiesBrokerage

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