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
About this deal
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.
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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