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Urban Atelier Group Signs 15-Year Lease For Office Space At 41 Madison Avenue In Midtown
LEASED
$79
New York
See Similar DealsOffice25,268 SF
Leased 11/04/2024
LEASED
Urban Atelier Group Signs 15-Year Lease For Office Space At 41 Madison Avenue In Midtown
41 Madison Avenue
See Similar DealsOffice25,268 SF
Leased 11/04/2024
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$79
Total Square Footage:25,268 SF
Transaction Type:Lease
The property asset involved in this transaction is located at 41 Madison Avenue in Midtown Manhattan. This office space has an asking rent of $79 per square foot and encompasses a total of 25,268 square feet. The transaction consists of a lease agreement for a duration of 15 years.
Summary of transation details:
- Property Type: Office
- Transaction Amount: $79/ft
- Lease Term: 15-year lease
- Landlord: Michael Rudin - Rudin
- Tenant: Urban Atelier Group
- Landlord's Representative: Robert Steinman - Rudin Management
- Tenant's Representative: Ross Eisenberg - RDE Advisors
The transaction marks a significant move for Urban Atelier Group, which is relocating from its current headquarters in Midtown. The involvement of Rudin Management indicates a representation by established figures in the real estate market.
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Deal Type
NNN (Triple Net)
Effective Rent (Annual)
$2,288,387.49
Total Lease Value
$22,883,874.89
Net Landlord Cash Flow$2,288,387.49
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