JTC Group Signs 15,926 Square Foot Office Lease At 575 Madison Avenue In Midtown Manhattan
575 Madison Avenue
Building Size
15,926 SF
Asset Type
Office
Closing
Sep 4, 2025
About this deal
AI
The asset involved in this transaction is an office located at 575 Madison Avenue in Midtown Manhattan. This property has a total square footage of 15,926. The current market is indicative of a robust demand for office space in this prestigious area.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 575 Madison Avenue
- Market: Midtown Manhattan
- Square Footage: 15,926
- Landlord: Michael Steinberg - Steinberg & Pokoik Management
- Tenant: JTC Group
- Brokerage Firm: CBRE
- Brokers Involved: David Hollander, Gregg Rothkin, Brad Auerbach, Maxwell Tarter, William Hooks, John G. Nugent, Joseph D’Apice
JTC Group has signed a lease to occupy the office space at 575 Madison Avenue, relocating from Rockefeller Center, marking a strategic move within the Midtown Manhattan market.
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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