Wiggin And Dana Leases 15000 SF Office Space At 437 Madison Ave, New York
437 Madison Ave, New York, NY, 10022
Building Size
15,000 SF
Asset Type
Office
Closing
Jun 28, 2016
AI
The property asset involved in this transaction is located at 437 Madison Ave, New York, NY, 10022. It is classified as an office space with a square footage of 15,000. The asking rent for this property was $108 per square foot, reflecting the market value in New York.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: 15-year lease
- Address: 437 Madison Ave, New York, NY, 10022
- Square Feet: 15,000
- Tenant: Wiggin and Dana
- Landlord: William Kaufman Organization
- Brokers representing Tenant: Matthew Barlow - Savills, Michael Goldman - MGA
- Brokers representing Landlord: Frank Doyle - JLL, David Kleiner - JLL, Cynthia Wasserberger - JLL, Hayley Shoener - JLL, Harlan Webster - JLL, Michael Lechner - Sage Realty Corp
This deal was facilitated by a number of key individuals and firms. The tenant, Wiggin and Dana, is represented by brokers from Savills Studley, including Matthew Barlow and Michael Goldman. The landlord, William Kaufman Organization, was represented by a team from JLL, which included Frank Doyle, David Kleiner, Cynthia Wasserberger, Hayley Shoener, and Harlan Webster, alongside Michael Lechner from Sage Realty Corp, which is associated with the landlord's leasing and management activities.
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