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437 Madison Ave, New York, ...

Medallion Financial Renews Lease At 437 Madison Ave With Newmark Representative
LEASEDOffice

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

Paul Davidson

Newmark

Broker

$142M

vol

3 deals

Broker

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