Medallion Financial Renews Lease At 437 Madison Ave With Newmark Representative
437 Madison Ave, New York, NY, 10022
Building Size
19,000 SF
Asset Type
Office
Closing
Jan 19, 2016
AI
The property involved in the lease transaction is located at 437 Madison Ave, New York, NY, 10022. The asset type is an office covering a total area of 19,000 square feet. The lease renewal was conducted between Medallion Financial Corp as the tenant and William Kaufman Organization as the landlord. The tenant was represented by Paul Davidson and William Mendelson from Newmark Grubb Knight Frank, while the landlord was represented by Michael Lenchner from Sage Realty Corp.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not Applicable
- Tenant: Medallion Financial Corp
- Landlord: William Kaufman Organization
- Tenant's Rep: Paul Davidson(Newmark), William Mendelson(Newmark)
- Landlord's Rep: Michael Lenchner(Sage Realty Corp)
- Market: New York
- Address: 437 Madison Ave, New York, NY, 10022
- Square Feet: 19,000
The lease renewal at 437 Madison Ave was facilitated by the tenant's representatives, Paul Davidson and William Mendelson from Newmark Grubb Knight Frank, and the landlord's representative, Michael Lenchner from Sage Realty Corp. Both parties were instrumental in negotiating the terms of the lease, ensuring a successful transaction for Medallion Financial Corp and The William Kaufman Organization.
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