Garnett Station Partners Leases Office Space At 450 Park Avenue In Midtown Manhattan
450 Park Avenue
$160
$160/SF
Building Size
24,963 SF
Asset Type
Office
Closing
Oct 24, 2023
About this deal
AI
Investment firm Garnett Station Partners has signed a lease for 24,963 square feet of office space at 450 Park Avenue in Midtown Manhattan. The property is owned by SL Green and has an asking rent of $160 per square foot.
Summary of transaction details
- Property Type: Office
- Transaction Amount: Lease
- Address: 450 Park Avenue
- Market: Midtown Manhattan
Garnett Station Partners leased the office space from SL Green, represented by Howard Tenenbaum and Gary Rosen. The deal was brokered by David Falk and Jason Greenstein of Newmark.
NOTE: The lease was signed for an asking rent of $160 per square foot.
On the Map
$160
$160/SF
Office
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Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
99143.75%
Cash-on-Cash
-28335.59%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93