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55 East 52nd Street

Evercore Signs 12-Year Lease For Additional 95,000 SF At 55 East 52nd Street In Midtown Manhattan
LEASEDOffice

Evercore Signs 12-Year Lease For Additional 95,000 SF At 55 East 52nd Street In Midtown Manhattan

55 East 52nd Street

$130

$130/SF

Building Size

95,000 SF

Asset Type

Office

Closing

Jan 23, 2024

AI

The property asset involved in this lease transaction is located at 55 East 52nd Street, situated in the Midtown Manhattan market. The office space measures 95,000 square feet and has an asking rent of $130 per square foot. Evercore has secured this space through a 12-year lease agreement, thereby expanding its footprint in the area.

Summary of transaction details:

This lease transaction involved key participants including Fisher Brothers as the landlord, represented by Ken Fisher, Marc Packman, Charles Laginestra, Clark Briffel, and Josh Fisher. Alan Desino from Colliers International acted as the broker for the transaction, facilitating the deal for Evercore at the specified property.

Players

Alan Desino

Colliers

Broker

2 deals

Broker
Marc Packman

Marc Packman

Fisher Brothers

Landlord

7 deals

Landlord
Fisher Brothers
Fisher BrothersLandlord

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

122023.08%

Cash-on-Cash

-34874.57%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93