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510 Madison Ave New York, N...

One Equity Partners Renews And Expands Lease At Boston Properties' 510 Madison Avenue
LEASEDOffice

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

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.

Players

C.J Heitner

Newmark

Broker

3 deals

Broker
Boston Properties
Boston PropertiesLandlord

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

105753.33%

Cash-on-Cash

-30224.63%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93