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400 Madison Avenue

Brink's Leases Office At 400 Madison Avenue In Midtown Manhattan
LEASEDOffice

Brink's Leases Office At 400 Madison Avenue In Midtown Manhattan

400 Madison Avenue

$68

$68/SF

Building Size

8,036 SF

Asset Type

Office

Closing

Mar 22, 2024

AI

The office property located at 400 Madison Avenue in Midtown Manhattan has been leased in a transaction involving Daishin America LLC as the landlord and Brink’s Incorporated as the tenant. The lease term is for a five-year period, with an asking rent of $68 per square foot for the 8,036 square feet of space.

Summary of transaction details:

Kyle Young from JLL represented Brink’s Incorporated in the deal, facilitating their relocation of their Midtown office to Daishin America's property at 400 Madison Avenue. The armored car provider will occupy the 8,036 square feet of space for the duration of the five-year lease agreement.

Players

Kyle Young

JLL

Broker

$38.2M

vol

16 deals

Broker

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

233279.41%

Cash-on-Cash

-66671.97%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93