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437 Madison Ave, New York, ...

WeWork Leases 362197 Square Feet At 437 Madison Ave New York From William Kaufman Organization
LEASEDOffice

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

Howard Hersch

Newmark

Broker

24 deals

Broker

William Kaufman

Organi

Landlord

$372M

vol

22 deals

Landlord
WeWork
WeWorkTenant

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