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499 Seventh Avenue

Greystone Signs Seven-Year Lease For 8000 Square Feet At 499 Seventh Avenue In Manhattan
LEASEDOffice

Greystone Signs Seven-Year Lease For 8000 Square Feet At 499 Seventh Avenue In Manhattan

499 Seventh Avenue

$52

$52/SF

Building Size

8,000 SF

Asset Type

Office

Closing

Feb 3, 2025

AI

The property at 499 Seventh Avenue is an office asset located in the Manhattan market, featuring a lease signed by Greystone. The asking rent for the property is set at $52 per square foot for a total area of 8,000 square feet.

Summary of transation details:

The transaction involved multiple representatives from both the landlord and tenant sides, with Savitt Partners acting on behalf of the landlord and Newmark representing the tenant. Charles Di Maggio secured the lease agreement for the third floor of the building, facilitated by the representatives during the negotiation process.

Players

Brian Neugeboren

Broker

9 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

305057.69%

Cash-on-Cash

-87186.42%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93