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State Bank Of India Leases 41700 Square Feet At 425 Park Avenue With Michael Burgio As The Broker
LEASED
New York
See Similar DealsOffice41,700 SF
Leased 03/11/2025
LEASED
State Bank Of India Leases 41700 Square Feet At 425 Park Avenue With Michael Burgio As The Broker
425 Park Avenue
See Similar DealsOffice41,700 SF
Leased 03/11/2025
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$0
Total Square Footage:41,700 SF
Transaction Type:Lease
The property asset involved in the transaction is an office space located at 425 Park Avenue in Manhattan. The total square footage of the leased area amounts to 41,700 square feet, and it occupies three floors in a 47-story tower owned by L&L Holding.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 425 Park Avenue
- Market: Manhattan
- Landlord: David Levinson - L&L Holding
- Tenant: State Bank of India
- Broker: Michael Burgio - Cushman & Wakefield
The State Bank of India has secured the lease for the last available office space within the tower, which is part of a strategic decision by the bank to establish a presence in a prime location in Manhattan.
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Deal Type
NNN (Triple Net)
Effective Rent (Annual)
$2,390,218.84
Total Lease Value
$23,902,188.36
Net Landlord Cash Flow$2,390,218.84
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