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:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 400 Madison Avenue
- Market: Midtown Manhattan
- Landlord: Daishin America LLC
- Tenant: Brink’s Incorporated
- Landlord's Rep: Harry Blair, Lauren Hale & Michelle Mean - Cushman & Wakefield
- Tenant's Rep: Kyle Young - JLL
- Asking Rent: $68/ft
- Lease Term: Five-year lease
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
New York Office Market Snapshot
Boundary boundary · Office · Lease transactions
Loading comparables…
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