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515 Madison Avenue New York...

GFP Real Estate Renews Lease For Office Space At 515 Madison Avenue In Manhattan Plaza District
LEASEDOffice

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

Sam Matayev

Norman Bobrow & Company

Broker

2 deals

Broker
GFP Real Estate
GFP Real EstateLandlord

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