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452 5th Avenue

Brighton Park Capital Management Leases Office Space At 452 5th Avenue
LEASEDOffice

Brighton Park Capital Management Leases Office Space At 452 5th Avenue

452 5th Avenue

Building Size

16,428 SF

Asset Type

Office

Closing

Jun 18, 2024

AI

The office space located at 452 Fifth Ave in Midtown Manhattan has been leased by Brighton Park Capital Management for a full-floor space of 16,428 square feet on the 21st floor of 10 Bryant. The lease term for this transaction is 10 years.

Summary of transaction details:

The deal was facilitated by Benjamin Bass, Kate Roush, Kristen Morgan, and Paul Glickman from JLL representing the landlord, while Josh Friedman and Neil Goldmacher from Newmark acted as the tenant's representatives in this lease agreement.

Players

Benjamin Bass

JLL

Broker

$770M

vol

27 deals

Broker

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