Adam J. Stark Of Stark Office Suites Signs Long-Term Lease With Dajia Insurance Group In Midtown Manhattan
717 5th Avenue
Building Size
17,300 SF
Asset Type
Office
Closing
Oct 14, 2025
AI
The property involved in this lease transaction is an office space located at 717 5th Avenue in Midtown Manhattan. The total square footage of the asset is 17,300 square feet, spanning two floors. The landlord of the property is Dajia Insurance Group.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 717 5th Avenue
- Market: Midtown Manhattan
- Landlord: Dajia Insurance Group
- Tenant: Adam J. Stark - Stark Office Suites
- Landlord's Representative: David Hollander, Nick Hilton & Maxwell Tarter - CBRE
- Tenant's Representative: Craig Lemle & Roi Shleifer - Savills
Stark Office Suites has signed a long-term lease to expand its Excelsior premium office brand following a strong debut at 825 Third Avenue last year. This decision indicates a continued demand for high-end flexible workspace in New York City.
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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93