GFP Real Estate Renews Lease For Office Space At 515 Madison Avenue In Manhattan Plaza District
515 Madison Avenue New York, NY 10022, USA
Building Size
5,666 SF
Asset Type
Office
Closing
Sep 13, 2023
AI
GFP Real Estate, LLC has announced two lease transactions totaling 5,666 square feet at 515 Madison Ave. in Manhattan's Plaza District. The office space, located on the 31st floor, is being leased by two tenants.
Summary of transaction details
- Property Type: Office
- Transaction Amount: Not specified
- Address: 515 Madison Avenue
- Market: Central Midtown, Manhattan
- Square Footage: 5,666
The first tenant, Kayser & Redfern, LLP, has renewed its lease for 3,956 square feet. The law firm will continue to occupy the office space on the 31st floor. In the second transaction, Alpha Properties Group Corp has leased an undisclosed amount of space in the same building.
Players
Greenport 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