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450 W 33rd St, New York, NY...

Updated Dec 3, 2024

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Amazon Leases 360000 Square Feet At 450 W 33rd St New York Represented By JLL
LEASEDOffice

Amazon Leases 360000 Square Feet At 450 W 33rd St New York Represented By JLL

450 W 33rd St, New York, NY, 10001

Building Size

360,000 SF

Asset Type

Office

Closing

Sep 21, 2017

About this deal

AI

The property involved in this transaction is situated at 450 W 33rd St, New York, NY, 10001, within the New York market. The leased space measures 360,000 square feet and is part of the Brookfield Property Partners’ development known as 5 Manhattan West. The building consists of 16 stories and has a total square footage of 1.8 million. Amazon plans to occupy the sixth and seventh floors, in addition to sections of the eighth and tenth floors.

Summary of transaction details:

  • Property Type: Lease
  • Transaction Amount: Not specified
  • Address: 450 W 33rd St, New York, NY, 10001
  • Tenant: Amazon
  • Landlord: Brookfield Property Partners
  • Tenant's Representative: Derek Trulson (JLL)
  • Landlord's Representative: Jeremiah (Jerry) Larkin
  • Square Feet: 360,000
  • Occupancy Rate After Transaction: 99 percent
  • Job Creation: 2,000 new jobs
  • Average Annual Earnings of Jobs: $100,000

The deal involved multiple representatives, with Amazon represented by JLL's Derek Trulson, Josh Stuart, Bill Peters, and Clay Nielsen. Brookfield Property Partners was represented in-house by Jeremiah Larkin, Duncan McCuaig, and Alex Liscio, along with assistance from a Cushman & Wakefield team that included Bruce Mosler, Josh Kuriloff, Rob Lowe, Ethan Silverstein, and Matthias Li. Negotiations for the lease commenced in April.

Players

Derek Trulson

JLL

Broker

4 deals

Broker
Amazon
AmazonTenant

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

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