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452 5th Avenue

Jeff Bezos Of Amazon Signs 15-Year Lease For 330,000 Square Feet In Midtown Manhattan
LEASEDOffice

Jeff Bezos Of Amazon Signs 15-Year Lease For 330,000 Square Feet In Midtown Manhattan

452 5th Avenue

Building Size

330,000 SF

Asset Type

Office

Closing

Apr 17, 2025

AI

The property asset involved in the transaction is an office space located at 452 5th Avenue, Midtown Manhattan, encompassing 330,000 square feet. This transaction highlights the ongoing demand for office spaces in a prime location, particularly significant as Amazon replaces HSBC as the anchor tenant.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not disclosed
  • Landlord: Eli Elefant - Property Building Corp
  • Tenant: Jeff Bezos - Amazon
  • Lease Term: 15-year lease

The deal features Eli Elefant, representing Property Building Corp, as the landlord, while Jeff Bezos represents Amazon as the tenant. This agreement marks one of the largest office deals in Midtown since the pandemic, showcasing the strategic repositioning of major commercial spaces.

Players

Eli Elefant

Landlord

3 deals

Landlord

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