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51 Astor Place

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

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.

Players

Benjamin Bass

JLL

Broker

$770M

vol

27 deals

Broker
Newmark
NewmarkBrokerage
JLL
JLLBrokerage

New York Office Market Snapshot

Boundary boundary · Office · Lease transactions

Loading comparables…

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