WeWork Leases 362197 Square Feet At 437 Madison Ave New York From William Kaufman Organization
437 Madison Ave, New York, NY, 10022
Building Size
362,197 SF
Asset Type
Office
Closing
Sep 27, 2016
AI
The property asset involved in this transaction is located at 437 Madison Ave, New York, NY, 10022. It encompasses a total of 362,197 square feet and is situated in the New York market.
Summary of transaction details:
- Property Type: Lease
- Transaction Amount: Not specified
- Address: 437 Madison Ave, New York, NY, 10022
- Square Feet: 362,197
- Landlord: William Kaufman Organization
- Tenant: WeWork
- Landlord's Rep: Harlan Webster-JLL, Hayley Schoener
- Broker: Howard Hersch-JLL
The key individuals and companies involved in the transaction include Harlan Webster and Hayley Schoener representing the landlord, William Kaufman Organization, while Howard Hersch represents the tenant, WeWork. Their roles were crucial in facilitating the lease agreement.
Players
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