Vasant Narasimhan Of Novartis Renews Office Lease At 452 5th Avenue In Midtown Manhattan
452 5th Avenue
Building Size
15,865 SF
Asset Type
Office
Closing
Mar 11, 2025
About this deal
AI
The property is situated at 452 5th Avenue in Midtown Manhattan, encompassing a total space of 15,865 square feet designated for office use. It is part of a high-demand market known for its significant commercial activity.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not disclosed
- Address: 452 5th Avenue
- Market: Midtown Manhattan
- Landlord: Property & Building Corporation
- Tenant: Vasant Narasimhan - Novartis
- Lease Term: five-year lease renewal
The leasing agreement has been renewed by Vasant Narasimhan, representing Novartis, indicating a commitment to the office space for an additional five years, reflecting confidence in the location and its amenities.
On the Map
Office
View full map
Players
New York Office Market Snapshot
Boundary boundary · Office · Lease transactions
Loading comparables…
Deal FAQ
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