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TruArc Partners Renews Lease For 10,000 SF Office Space At 545 Madison Avenue
LEASED
$135
New York
See Similar DealsOffice10,000 SF
Leased 02/14/2024
LEASED
TruArc Partners Renews Lease For 10,000 SF Office Space At 545 Madison Avenue
545 Madison Avenue
See Similar DealsOffice10,000 SF
Leased 02/14/2024
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$135
Total Square Footage:10,000 SF
Transaction Type:Lease
TruArc Partners has renewed their lease for 10,000 square feet at 545 Madison Avenue in Manhattan. The lease, which marks a 7-year extension, highlights Marx Realty's successful repositioning of the property, resulting in elevated occupancy rates and rents ranging from $86 to $135 per square foot.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $135/ft ~ SF: 10,000
- Address: 545 Madison Avenue
- Market: Manhattan
The landlord of 545 Madison Avenue is Craig Deitelzweig from Marx Realty. The tenant, TruArc Partners, was represented by Ben Levy and Evan Margolin from JLL. Craig Deitelzweig was represented by Tara Stacom from Cushman & Wakefield.
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Deal Type
NNN (Triple Net)
Effective Rent (Annual)
$1,547,623.71
Total Lease Value
$15,476,237.07
Net Landlord Cash Flow$1,547,623.71
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