Wellness Center Weiss Wellness Signs 10-Year Lease At 515 Madison Avenue In Midtown East
515 Madison Avenue New York, New York 10022, USA
Building Size
6,536 SF
Asset Type
Office
Closing
Jul 25, 2023
About this deal
AI
GFP Real Estate has leased out 6,536 square feet of office space at 515 Madison Avenue in Midtown East. The lease was signed with Weiss Wellness, a wellness center, for a term of 10 years. The space is located on the building's fifth floor.
Summary of transaction details
- Property Type: Office
- Transaction Amount: Not mentioned
- Address: 515 Madison Avenue
- Market: Midtown East
- Square Footage: 6,536
Weiss Wellness, a wellness center, has secured a 10-year lease for 6,536 square feet of office space at 515 Madison Avenue in Midtown East. The lease was signed with GFP Real Estate. This deal brings together two parties in the real estate market, with GFP Real Estate acting as the landlord and Weiss Wellness as the tenant.
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Office
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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