Vera Wang Relocates Offices To 500 Park Ave In Midtown Manhattan
500 Park Avenue New York, New York 10022, Usa
Building Size
26,708 SF
Asset Type
Office
Closing
Aug 21, 2023
AI
Fashion designer Vera Wang has relocated her offices and showroom to a new location at 500 Park Ave in Midtown Manhattan. The property is an office space spanning 26,708 square feet.
Summary of transation details
- Property Type: Office
- Transaction Amount: Not specified
- Address: 500 Park Ave, Midtown Manhattan
- Market: Midtown Manhattan
- Landlord: Morgan Stanley Prime Property Fund
- Tenant: Vera Wang
In the lease transaction, Cynthia Wasserberger and Frank Doyle from JLL represented the landlord, Morgan Stanley Prime Property Fund. On the tenant's side, Christopher Foerch, Daniel Horowitz, and Jeff Peck from Savills, along with Michael Pallas from JLL, acted as Vera Wang's representatives.
Players
Park 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