Belkin Burden Goldman, LLP Leases 30598 Square Feet At 60 E 42nd St New York
60 E 42nd St, New York, NY, 10165
Building Size
30,598 SF
Asset Type
Office
Closing
Jan 29, 2021
AI
One Grand Central Place is a 55-story building located at 60 E 42nd St, New York, NY, 10165, where Belkin Burden Goldman, LLP has signed a long-term lease for 30,598 square feet. The property is under the ownership of Empire State Realty Trust and is situated in the New York market, known for its prominent location directly across from Grand Central Terminal.
Summary of transaction details:
- Property Type: Lease
- Transaction Amount: Not specified
- Tenant: Belkin Burden Goldman, LLP
- Landlord: Empire State Realty Trust
- Tenant's Representatives: Colm Ralph (Savills), Daniel Horowitz (Savills), Jacob Stern (Savills)
- Landlord's Representatives: Scott Klau (Newmark), Erik Harris (Newmark), Neil Rubin (Newmark), Billy Cohen (Newmark)
- Square Feet: 30,598
- Previous Location: 270 Madison Avenue
- Lease Negotiation Team: Jeffrey Peck (Savills), Daniel Horowitz (Savills), Roi Shleifer (Savills), Jacob Stern (Savills), Colm Ralph (Savills)
The lease for Belkin Burden Goldman, LLP was negotiated over a six-month period after thorough exploration of the market. Jeffrey Peck, a vice chairman at Savills, highlighted that the firm identified the space as a suitable long-term home aligning with its business goals, particularly focusing on sustainability and employees' workspace needs. Jeffrey Goldman and Daniel Altman, partners at BBG, expressed confidence in New York City's future, reinforcing their decision to relocate to One Grand Central Place.
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