Perry Law Signs 11-Year Office Lease At 445 Park Avenue, Midtown Manhattan
445 Park Avenue
$95
$95/SF
Building Size
6,100 SF
Asset Type
Office
Closing
Feb 7, 2024
AI
The office at 445 Park Avenue in Midtown Manhattan was leased by Perry Law from landlord Jay Futersak. The lease agreement, facilitated by brokers Adelaide Polsinelli and Lauren Curcio from Compass, had an asking rent of $95 per square foot for the 6,100 square feet space and a lease term of 11 years.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 445 Park Avenue
- Market: Midtown Manhattan
- Landlord: Jay Futersak
- Tenant: Perry Law
- Brokers: Adelaide Polsinelli & Lauren Curcio - Compass
- Asking Rent: $95/ft
- Size: 6,100 square feet
- Lease Term: 11 Years
Adelaide Polsinelli and Lauren Curcio of Compass played pivotal roles in matching the landlord, Jay Futersak, with the tenant, Perry Law, for the lease of the office space at 445 Park Avenue in Midtown Manhattan. The 11-year lease agreement with an asking rent of $95 per square foot underscores the successful transaction.
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
166978.95%
Cash-on-Cash
-47723.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93