The Alavi Foundation Leases Office Space To AXCS Capital In Midtown Manhattan For $66/ft

The asset involved in this transaction is an office space located at 650 5th Avenue in Midtown Manhattan. The modified gross lease was set with an asking rent of $66 per square foot for a total of 6,665 square feet. The landlord of the property is The Alavi Foundation.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $439,890
• Address: 650 5th Avenue
• Market: Midtown Manhattan
• Lease Type: Modified Gross Lease
• Landlord: The Alavi Foundation
• Tenant: Justin Piasecki, George Smith Partners, Ed Steffelin & Evan Kinne - AXCS Capital
• Tenant's Representative: Woody King - Lee & Associates

The key individuals involved in this transaction include Justin Piasecki and Ed Steffelin, who are part of the tenant organization AXCS Capital, alongside Evan Kinne. The representation for the tenant was provided by Woody King from Lee & Associates, facilitating this lease agreement with The Alavi Foundation.