Tutor Perini Signs Six-Year Lease For 27990 Square Feet At 520 Eighth Avenue In Midtown Manhattan
520 8th Avenue
Building Size
27,990 SF
Asset Type
Office
Closing
Sep 9, 2025
About this deal
AI
520 8th Avenue is located in Midtown Manhattan and is categorized as an office asset, encompassing a total of 27,990 square feet. The lease agreement has a term of six years.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Lease Term: Six-year lease
- Landlord: Jeffrey Gural, Eric Gural & Brian Steinwurtzel - GFP Real Estate
- Tenant: Tutor Perini
- Broker: Matthew Mandell - GFP Real Estate
- Market: Midtown Manhattan
Matthew Mandell of GFP Real Estate represented the landlord in this lease transaction, while Tutor Perini is the tenant securing the space at 520 8th Avenue, located in Manhattan's Garment District.
On the Map
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