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51 Astor Place

Updated Aug 7, 2025

Perceptive Advisors Expands Lease At 51 Astor Place To 25,000 Square Feet In Midtown South
LEASEDOffice

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

About this deal

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:

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.

On the Map

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Office

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Players

Benjamin Bass

JLL

Broker

$770M

vol

31 deals

Broker
Newmark
NewmarkBrokerage
JLL
JLLBrokerage

Edward Minskoff

Minskoff Equities

Landlord

$235.4M

vol

15 deals

Landlord
Edward J. Minskoff Equities
Edward J. Minskoff EquitiesLandlord

Joseph Edelman

Tenant

$65M

vol

5 deals

Tenant
Bilt advertisement

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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

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