HDR Leases 74,500-Square-Foot Office Space At 7 Pennsylvania Plaza In Manhattan
7 Pennsylvania Plaza
Building Size
74,500 SF
Asset Type
Office
Closing
May 4, 2026
About this deal
AI
7 Pennsylvania Plaza, located in Manhattan, is an office asset consisting of 74,500 square feet. This lease signifies HDR's relocation from 500 Seventh Avenue, as they will now occupy the 15th–17th floors of the building owned by the Feil Organization.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 7 Pennsylvania Plaza
- Market: Manhattan
- Square Footage: 74,500
- Landlord: Jeffrey J. Feil - The Feil Organization
- Tenant: HDR
- Brokers: Andrew Wiener & Kyle Young - The Feil Organization
The transaction was facilitated by Andrew Wiener and Kyle Young, both representing the Feil Organization. HDR signed a long-term lease with precise occupancy details regarding their move into the substantial space of the property.
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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