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595 Madison Ave, New York, ...

Albea Beauty Solutions Leases 13000 Square Feet At 595 Madison Ave From Vornado Realty Trust
LEASEDOffice

Albea Beauty Solutions Leases 13000 Square Feet At 595 Madison Ave From Vornado Realty Trust

595 Madison Ave, New York, NY, 10022

Building Size

13,000 SF

Asset Type

Office

Closing

Nov 22, 2016

AI

The property asset involved in this transaction is located at 595 Madison Ave, New York, NY, 10022. It consists of a total area of 13,000 square feet, specifically occupying the entire 10th floor of the building. The property is situated in the New York market.

Summary of transaction details:

This lease involves Albea Beauty Solutions renewing its tenancy at the property, having been located there for nearly 20 years. The tenant was represented by Savills Studley's Daniel Horowitz, Jeffrey Peck, and Gary Kerper, while Andrew Ackerman and Edward Riguardi represented Vornado Realty Trust in-house.

Players

Daniel Horowitz

Savills

Broker

18 deals

Broker
Durst Organization
Durst OrganizationBrokerage
Vornado Realty Trust
Vornado Realty TrustLandlord

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