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:
- Property Type: Office
- Transaction Amount: $12,350,000
- Address: 55 East 52nd Street
- Market: Midtown Manhattan
- Landlord: Fisher Brothers
- Landlord's Representatives: Ken Fisher, Marc Packman, Charles Laginestra, Clark Briffel, Josh Fisher
- Tenant: Evercore
- Broker: Alan Desino - Colliers International
- Lease Term: 12 years
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
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