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:
- Property Type: Office
- Transaction Amount: Not specified
- Lease Term: 20 years
- Lease Type: Retail Lease
- Landlord: Eli Elefant - Property & Building Corporation
- Tenant: Parham Javaheri - Life Time
- Landlord's Representative: Patrick Smith & Amanda Sujak - JLL
- Tenant's Representative: Joe Mastromonaco & Colleen Morrissey - Atlantic Retail
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
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