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452 5th Avenue

Eli Elefant's Property & Building Corporation Leases Office Space To Life Time In Manhattan
LEASEDOffice

Eli Elefant's Property & Building Corporation Leases Office Space To Life Time In Manhattan

452 5th Avenue

$50

$50/SF

Building Size

52,000 SF

Asset Type

Office

Closing

Jun 19, 2025

AI

The property asset involved in this transaction is an office space located at 452 5th Avenue in Manhattan. The asset covers an area of 52,000 square feet and is classified as an office type property with a retail lease.

Summary of transaction details:

The deal features key individuals including Eli Elefant, who represents the landlord, and Parham Javaheri, the tenant. The landlord's interests are represented by Patrick Smith and Amanda Sujak from JLL, while Joe Mastromonaco and Colleen Morrissey from Atlantic Retail act as representatives for the tenant in this lease agreement.

Players

Patrick Smith

JLL

Broker

$1.3M

vol

6 deals

Broker
JLL
JLLBrokerage
Eli Elefant

Eli Elefant

Landlord

3 deals

Landlord
Property & Building Corporation (PBC USA)
Property & Building Corporation (PBC USA)Landlord
Life Time Group Holdings Inc.
Life Time Group Holdings Inc.Tenant

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

317260.00%

Cash-on-Cash

-90673.88%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93