International Federation Of Accountants Leases 12800 Square Feet At 570 Lexington Avenue In Midtown
570 Lexington Avenue
Building Size
12,800 SF
Asset Type
Office
Closing
Oct 1, 2025
AI
The property asset involved in this transaction is an office located at 570 Lexington Avenue in Central Midtown, Manhattan. The total square footage of the asset is 12,800 square feet.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 570 Lexington Avenue
- Market: Central Midtown, Manhattan
- Square Footage: 12,800
- Landlord: Jeffrey Feil - The Feil Organization
- Tenant: International Federation of Accountants (IFAC)
- Tenant's Representative: Jeffrey (Jeff) Peck, Daniel Horowitz, Jacob Stern & Eddy Grigg - Savills
- Brokers: Andrew Wiener, Timothy D. Parlante & Kyle Young - The Feil Organization
IFAC is relocating its New York City headquarters from 529 Fifth Avenue to this new location. Additionally, Greenberg Gross has leased 4,300 square feet in the same Midtown tower, where asking rents range from $65 to $80 per square foot.
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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93