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:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 5 Pennsylvania Plaza
- Market: Manhattan
- Landlord: 5 Penn Plaza LLC
- Tenant: Michael Shaulov - Fireblocks
- Brokers: Mitchell Konsker, Christine Colley, Kristen Morgan, Gregory Wang, Kate Roush & Daniel Turkewitz - JLL
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
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