Armanino Signs 10-Year Lease For 19135 Square Feet At 437 Madison Avenue In Manhattan
437 Madison Avenue
Building Size
19,135 SF
Asset Type
Office
Closing
Sep 17, 2024
AI
The property asset involved in the transaction is an office space located at 437 Madison Avenue in Manhattan, comprising 19,135 square feet. The lease agreement was signed for a duration of 10 years.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not disclosed
- Address: 437 Madison Avenue
- Market: Manhattan
- Landlord: The Kaufman family
- Tenant: Armanino
- Landlord's Representative: Michael Lenchner - Sage Realty
- Tenant's Representatives: Jessica Verdi, Maria Valanzano & Michael Cohen - Colliers
This lease transaction features prominent representatives from both sides, with Michael Lenchner representing the landlord, while the tenant, Armanino, was represented by Jessica Verdi, Maria Valanzano, and Michael Cohen from Colliers.
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