Puig Signs Lease For 25,200 SF Office Space At 45 Rockefeller Plaza In Manhattan
45 Rockefeller Plaza New York, New York 10111, USA
Building Size
25,200 SF
Asset Type
Office
Closing
Jul 20, 2023
About this deal
AI
Beauty and fashion company Puig has signed a lease for approximately 25,200 square feet of office space at 45 Rockefeller Plaza in Manhattan. The office space, located in the iconic Rockefeller Center, will serve as Puig's new headquarters, replacing their previous location on Madison Avenue. This relocation signifies Puig's continued growth and success in the industry.
Summary of transaction details
- Property Type: Office
- Transaction Amount: Not disclosed
- Square footage: 25,200
- Address: 45 Rockefeller Plaza, Manhattan
- Market: Manhattan
Tishman Speyer, the landlord of 45 Rockefeller Plaza, has facilitated the lease agreement with Puig. This deal highlights the appeal of Rockefeller Center as a prime business location in Manhattan. The move to this prestigious address will provide Puig with a central hub for their operations, allowing them to further establish their presence in the beauty and fashion industry.
Players
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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