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545 Madison Avenue

Kewsong Lee Of BellTower Partners Leases 9,000 SF Office At 545 Madison Avenue For 10 Years
LEASEDOffice

Kewsong Lee Of BellTower Partners Leases 9,000 SF Office At 545 Madison Avenue For 10 Years

545 Madison Avenue

$125

$125/SF

Building Size

9,000 SF

Asset Type

Office

Closing

Mar 4, 2025

AI

The asset involved in this transaction is located at 545 Madison Avenue in Midtown Manhattan. It comprises 9,000 square feet of office space, with a lease agreement established at an asking rent of $125 per square foot for the entire 15th floor.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $1,125,000
  • Address: 545 Madison Avenue
  • Market: Midtown Manhattan
  • Landlord: Craig Deitelzweig
  • Landlord's Agency: Marx Realty
  • Tenant: Kewsong Lee
  • Tenant's Company: BellTower Partners
  • Landlord's Representative: Tara Stacom
  • Landlord's Representative Agency: Cushman & Wakefield
  • Tenant's Representatives: Neil King & Zachary Price
  • Tenant's Representative Agency: CBRE
  • Lease Term: 10 years

This deal involved BellTower Partners securing office space, with Kewsong Lee representing the firm as the tenant. The landlord, represented by Tara Stacom, was Craig Deitelzweig of Marx Realty. The tenant was represented by Neil King and Zachary Price from CBRE.

Players

Tara Stacom

Cushman & Wakefield

Broker

17 deals

Broker
Craig Deitelzweig

Craig Deitelzweig

Marx Realty

Landlord

$5.1M

vol

8 deals

Landlord
Kewsong Lee

Kewsong Lee

Tenant

$211.6M

vol

6 deals

Tenant

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

126904.00%

Cash-on-Cash

-36269.55%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93