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
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