Spring Health Leases 30,000 SF Office Space At 60 Madison Avenue In Nomad
60 Madison Avenue, New York City, New York 10010, United States
Building Size
30,000 SF
Asset Type
Office
Closing
Aug 3, 2022
About this deal
AI
The Moinian Group, led by Joseph Moinian, has signed a lease agreement with Spring Health, represented by April Koh, for office space at 60 Madison Avenue in the Nomad market. The seven-year lease encompasses a total square footage of 30,000, with an asking rent of $70 - $80 per square foot.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not Applicable
- Address: 60 Madison Avenue
- Market: Nomad
The deal was facilitated by brokers Gregg Rothkin and Tim Freydburg from CBRE, as well as Justin Haber and Kyle Riker from JLL.
On the Map
Office
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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