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410 Park Avenue

TriPost Capital Partners Leases 11,885 SF Office Space At 410 Park Ave In Midtown Manhattan
LEASEDOffice

TriPost Capital Partners Leases 11,885 SF Office Space At 410 Park Ave In Midtown Manhattan

410 Park Avenue

Building Size

11,885 SF

Asset Type

Office

Closing

Oct 9, 2023

AI

TriPost Capital Partners, a real estate private equity firm, is relocating and expanding its office space in New York City's Plaza District. The company has signed a lease to occupy the entire 14th floor of 410 Park Ave, covering 11,885 square feet. This move represents a significant expansion for TriPost Capital Partners, as they are moving from their current location at 654 Madison Ave.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: Not provided
  • Square Footage: 11,885
  • Address: 410 Park Avenue
  • Market: Midtown Manhattan

TriPost Capital Partners' decision to lease the entire 14th floor of 410 Park Ave showcases their commitment to growth and their confidence in the Plaza District as a prime location for their operations. This move will provide them with a larger and more modern office space to accommodate their expanding team and future business needs.

Steven Petrevski, representing Global Holdings, is the landlord for this transaction. The leasing process was facilitated by a team of brokers from JLL, including Benjamin Bass, Diana Biasotti, Evan Margolin, Harrison Potter, Kristen Morgan, and Scott Ansel. Their expertise and market knowledge contributed to the successful negotiation and execution of the lease agreement between TriPost Capital Partners and Global Holdings.

Players

Benjamin Bass

JLL

Broker

$770M

vol

27 deals

Broker
Global Holdings
Global HoldingsLandlord

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

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93