One Equity Partners Renews And Expands Lease At Boston Properties' 510 Madison Avenue
510 Madison Ave New York, NY 10022, USA
$150
$150/SF
Building Size
23,000 SF
Asset Type
Office
Closing
May 17, 2023
About this deal
AI
One Equity Partners has signed a "long-term" renewal and expansion deal for 23,000 square feet of office space at Boston Properties' 510 Madison Avenue in Midtown Manhattan. The firm will occupy the entire 18th and 19th floors, doubling its original space, with an asking rent ranging from $100 to $150 per square foot.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: N/A
- Address: 510 Madison Avenue, New York
- Market: New York
- Landlord: Boston Properties
- Tenant: One Equity Partners
- Asking Rent: $150 per square foot
- Square Feet: 23,000
C.J Heitner of Newmark represented One Equity Partners in this lease transaction.
On the Map
$150
$150/SF
Office
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Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
105753.33%
Cash-on-Cash
-30224.63%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93