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520 8th Avenue

Tutor Perini Signs Six-Year Lease For 27990 Square Feet At 520 Eighth Avenue In Midtown Manhattan
LEASEDOffice

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

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:

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.

Players

Matthew Mandell

GFP Real Estate

Broker

$75M

vol

21 deals

Broker
Jeffrey Gural

Jeffrey Gural

GFP Real Estate

Landlord

$915.3M

vol

20 deals

Landlord
GFP Real Estate
GFP Real EstateLandlord

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

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93