EliseAI Signs 10-Year Lease For 109000 Square Feet At 401 Fifth Avenue In Manhattan

The asset involved in the transaction is located at 401 5th Avenue in Manhattan, featuring office space with a total square footage of 109,000. The lease was signed at an asking rent of $80 per square foot.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $80/ft
• Square Footage: 109,000
• Address: 401 5th Avenue
• Market: Manhattan
• Landlord: Chetrit Organization
• Tenant: EliseAI
• Landlord's Representatives: Brian Waterman, David Waterman & Alexander Kesseler - Newmark
• Tenant's Representatives: Evan Margolin, Val Stobetsky, Calum Waddell, Hale King & Will McGarry - JLL

The deal marks a significant relocation for EliseAI, which is moving from its previous location at 33 East 33rd Street. The lease is structured for a duration of 10 years, emphasizing a long-term commitment from the tenant to the new space at 401 Fifth Avenue.