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
About this deal
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.
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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