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390 Madison Avenue

CBRE Represents Shiseido Americas In Effy Jewelry Sublease At 390 Madison Ave In Midtown Manhattan
LEASEDOffice

CBRE Represents Shiseido Americas In Effy Jewelry Sublease At 390 Madison Ave In Midtown Manhattan

390 Madison Avenue

$88

$88/SF

Building Size

51,193 SF

Asset Type

Office

Closing

Jan 1, 2024

AI

Shiseido Americas has leased the office space located at 390 Madison Avenue in Midtown Manhattan. The property, spanning 51,193 square feet, was leased to Effy Jewelry under a Modified Gross Lease agreement. The lease term is set for 11 years.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: Not available
  • Address: 390 Madison Avenue
  • Market: Midtown Manhattan

CBRE represented the landlord, Arkady Smolyansky, Lauren Crowley Corrinet, and Adele Huang, in the deal. The tenant, Effy Jewelry, was represented by LSL Advisors through their representatives, David Lolai and Daniel Lolai.

Players

Daniel Lolai

LSL Advisors

Broker

$211.9M

vol

91 deals

Broker
EJ
Effy JewelryTenant

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

180261.36%

Cash-on-Cash

-51519.25%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93