Perceptive Advisors Expands Lease At 51 Astor Place To 25,000 Square Feet In Midtown South
51 Astor Place
Building Size
25,000 SF
Asset Type
Office
Closing
Aug 4, 2025
AI
The asset involved in the transaction is an office space located at 51 Astor Place in Midtown South, encompassing 25,000 square feet. The landlord for this property is Edward J. Minskoff from Edward J. Minskoff Equities.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not disclosed
- Address: 51 Astor Place
- Market: Midtown South
- Size: 25,000 square feet
- Landlord: Edward J. Minskoff - Edward J. Minskoff Equities
- Tenant: Joseph Edelman - Perceptive Advisors
- Landlord's Representative: Paul Glickman, Mitchell Konsker, Benjamin Bass & Cynthia Wasserberger - JLL
- Tenant's Representative: Josh Friedman & Michael Horn - Newmark
Perceptive Advisors, represented by Joseph Edelman, is expanding its lease from 18,000 to 25,000 square feet. The transaction involved multiple representatives from both the landlord and tenant, including JLL for the landlord and Newmark for the tenant.
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