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527 Madison Ave, New York, ...

Clarion Capital Partners Leases 17200 Square Feet At 527 Madison Ave New York From Mitsui Fudosan America
LEASEDOffice

Clarion Capital Partners Leases 17200 Square Feet At 527 Madison Ave New York From Mitsui Fudosan America

527 Madison Ave, New York, NY, 10022

Building Size

17,200 SF

Asset Type

Office

Closing

Jan 30, 2023

AI

527 Madison Avenue is a trophy 26-story office tower located at the corner of 54th Street in New York's Plaza District. The property encompasses approximately 240,000 square feet, and recent leasing activity has brought it close to full occupancy. Currently, 17,200 square feet has been leased to Clarion Capital Partners, which occupies the 10th and 11th floors, alongside additional leases that include 6,500 square feet on the 25th floor and 4,484 square feet on the 12th floor.

Summary of transaction details:

  • Property Type: Lease
  • Transaction Amount: Not Disclosed
  • Address: 527 Madison Ave, New York, NY, 10022
  • Market: New York
  • Landlord: Mitsui Fudosan America
  • Tenant: Clarion Capital Partners
  • Landlord's Representative: Bryan Boisi (Cushman & Wakefield)
  • Square Feet: 17,200

Representation in this transaction included Savills vice chairman Stephen Berliner for Clarion Capital Partners, Todd Abrams of Prime Manhattan Realty for the container terminal operator, and Brad Needleman from Newmark for CAIS. The leasing activities are managed by a Cushman & Wakefield team led by executive vice chairman Mark Boisi, alongside executive directors Stephen Bellwood and Bryan Boisi, with property management provided by Hines.

Players

Stephen Berliner

Savills

Broker

2 deals

Broker
Mitsui Fudosan America
Mitsui Fudosan AmericaLandlord

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