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5 Pennsylvania Plaza

Michael Shaulov Of Fireblocks Signs 35,000 Square Foot Lease At 5 Penn Plaza In Manhattan
LEASEDOffice

Michael Shaulov Of Fireblocks Signs 35,000 Square Foot Lease At 5 Penn Plaza In Manhattan

5 Pennsylvania Plaza

Building Size

35,000 SF

Asset Type

Office

Closing

Jul 29, 2025

AI

The property asset involved in this lease transaction is located at 5 Pennsylvania Plaza in Manhattan, New York. The total square footage of the office space is 35,000, and it is owned by 5 Penn Plaza LLC. Fireblocks is the tenant that has signed the lease at this newly renovated building.

Summary of transaction details:

This lease marks Fireblocks' relocation from 441 Ninth Avenue, facilitating its operational expansion within Manhattan. The brokers who facilitated this transaction are a team from JLL, showcasing a collaborative effort in the real estate leasing process.

Players

Mitchell Konsker

JLL

Broker

$542M

vol

48 deals

Broker
JLL
JLLBrokerage
Michael Shaulov

Michael Shaulov

Fireblocks

Tenant

1 deal

Tenant
Fireblocks
FireblocksTenant

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