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601 Lexington Avenue

LibreMax Capital Leases Office Space At 601 Lexington Avenue For 10 Years
LEASEDOffice

LibreMax Capital Leases Office Space At 601 Lexington Avenue For 10 Years

601 Lexington Avenue

$96

$96/SF

Building Size

21,000 SF

Asset Type

Office

Closing

Mar 20, 2024

AI

601 Lexington Avenue is the location for a recent lease transaction involving an office space. The lease term spans 10 years, and the space measures 21,000 square feet with an asking rent of $96 per square foot.

Summary of transaction details:

LibreMax Capital, an asset management firm, is relocating its headquarters to larger offices at 601 Lexington Avenue through a 10-year lease agreement. This move aligns with the company's expansion strategy and solidifies their presence in Midtown Manhattan.

Players

Frank Doyle

JLL

Broker

$538.2M

vol

26 deals

Broker

New York Office Market Snapshot

Boundary boundary · Office · Lease transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

165239.58%

Cash-on-Cash

-47225.98%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93