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430 Park Avenue

ZCG Leases 16,849 Square Feet At 430 Park Avenue From Oestreicher Properties And Midwood Investment
LEASEDOffice

ZCG Leases 16,849 Square Feet At 430 Park Avenue From Oestreicher Properties And Midwood Investment

430 Park Avenue

Building Size

16,849 SF

Asset Type

Office

Closing

Oct 29, 2024

AI

The asset involved in this transaction is an office space located at 430 Park Avenue, New York, with a total square footage of 16,849. The property is situated in the Midtown East market and is owned by Oestreicher Properties, Midwood Investment, and Craig Deitelzweig of Marx Realty.

Summary of transaction details:

James Zenni of ZCG is the tenant for this lease, which is set to accommodate the company's expanding operations as they relocate from their previous space at 1330 Avenue of the Americas in Q2 2025. The landlord is represented by Clark Finney, Frank Doyle, Randy Abend, and Robin Olinyk from JLL, while the tenant is represented by Joshua Berger and Sam Matayev of Norman Bobrow & Company.

Players

Frank Doyle

JLL

Broker

$538.2M

vol

26 deals

Broker
Newmark
NewmarkBrokerage

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