NYU Langone Medical Associates Leases Office At 645 Madison Avenue From Titan Golden Capital
645 Madison Avenue
$95
$95/SF
Building Size
21,461 SF
Asset Type
Office
Closing
Feb 20, 2025
AI
The asset involved in this transaction is an office space located at 645 Madison Avenue, Lenox Hill, Manhattan. The total square footage of the property is 21,461 square feet, with an asking rent of $95 per square foot.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $95/ft
- Address: 645 Madison Avenue
- Market: Lenox Hill, Manhattan
- Landlord: Richard Huang, Albert Lu & Alice Tian - Titan Golden Capital
- Tenant: Robert I. Grossman - NYU Langone Medical Associates
- Landlord's Representative: Michael Doetsch & Jonathan Marks - Cresa
- Tenant's Representative: Mark Mandell - Cushman & Wakefield
- Square Footage: 21,461
NYU Langone Medical Associates has taken over the office previously occupied by Rothman Orthopaedics of Greater New York, which includes additional locations in Tarrytown and Harrison, New York. This transaction highlights the involvement of key representatives including Michael Doetsch and Jonathan Marks from Cresa representing the landlord, alongside Mark Mandell from Cushman & Wakefield representing the tenant.
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
166978.95%
Cash-on-Cash
-47723.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93