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
About this deal
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.
On the Map
$88
$88/SF
Office
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Players
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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