Joseph Moinian Of The Moinian Group Leases Office Space To Ian Orefice Of EverWonder Studio
450 Park Avenue South
Building Size
—
Asset Type
Office
Closing
Aug 19, 2025
About this deal
AI
The asset involved in this transaction is an office space located at 450-460 Park Avenue South in Midtown Manhattan, comprising a total area of 23,564 square feet. The landlord for this property is Joseph Moinian, representing The Moinian Group. The transaction involves the renewal and expansion of an existing lease.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not disclosed
- Address: 450-460 Park Avenue South
- Market: Midtown Manhattan
- Landlord: Joseph Moinian - The Moinian Group
- Tenant: Ian Orefice - EverWonder Studio
- Brokerage Firm: CBRE
EverWonder Studio has renewed and expanded its lease, increasing its space from 15,500 square feet to a total of 23,564 square feet. The deal included involvement from brokers Sacha Zarba, Conor Krup, Scott Sloves, Robert Wizenberg, Gregg Rothkin, Jared London, Hayden Pascal, Taylor Walker, and Keegan Schenk from CBRE.
On the Map
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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