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41 Madison Avenue

Updated Dec 4, 2024

Clarick Gueron Reisbaum Leases 41 Madison Avenue Office From Rudin For 11 Years
LEASEDOffice

Clarick Gueron Reisbaum Leases 41 Madison Avenue Office From Rudin For 11 Years

41 Madison Avenue

Building Size

13,394 SF

Asset Type

Office

Closing

Jun 24, 2024

About this deal

AI

An 11-year lease was signed for an office space spanning 13,394 square feet located at 41 Madison Avenue in Midtown South. The deal involved the landlords Michael Rudin & Samantha Rudin of Rudin and the tenants Clarick Gueron Reisbaum.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not provided
  • Address: 41 Madison Avenue
  • Market: Midtown South
  • Asset Type: Office ~ SF: 13,394

Clarick Gueron Reisbaum, the tenant, will be occupying the 23rd floor of Rudin’s 41 Madison Avenue, relocating from their previous 9,078 sq. ft. office at 220 Fifth Avenue. The deal was facilitated by Andrew M. Weiss Jr. of Signature Partners as the tenant's representative and Robert Steinman of Rudin represented the landlords in the transaction.

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Players

Robert Steinman

Rudin Management Company

Broker

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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