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450 Park Avenue South

Joseph Moinian Of The Moinian Group Leases Office Space To Ian Orefice Of EverWonder Studio
LEASEDOffice

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

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.

Players

Conor Krup

CBRE

Broker

10 deals

Broker
CBRE
CBREBrokerage

Joseph Moinian

The Moinian Group

Landlord

$491.8M

vol

10 deals

Landlord
The Moinian Group
The Moinian GroupLandlord
EverWonder Studio
EverWonder StudioTenant

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