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:
- Property Type: Lease
- Transaction Amount: Not specified
- Square Feet: 13,000
- Tenant: Albea Beauty Solutions
- Landlord: Vornado Realty Trust
- Tenant's Representative: Daniel Horowitz (Savills), Gary Kerper (Savills Studley)
- Landlord's Representative: Andrew Ackerman (RXR Realty)
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
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