Joseph Moinian Of Moinian Group Leases Office Space To DirectBooks On Madison Avenue
72 Madison Avenue
$59
$59/SF
Building Size
5,354 SF
Asset Type
Office
Closing
Apr 16, 2025
About this deal
AI
The property asset involved in the transaction is located at 72 Madison Avenue in the Nomad market. It is classified as an office space with an asking rent of $59 per square foot, encompassing a total area of 5,354 square feet.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $59/ft
- Address: 72 Madison Avenue
- Market: Nomad
- Landlord: Joseph Moinian - Moinian Group
- Tenant: DirectBooks
- Landlord's Rep: Gregg Weisser - Moinian Group
- Tenant's Rep: Ross Eisenberg - RDE Advisors
DirectBooks, a financial services firm, executed a four-year lease renewal for the designated office space on the 11th floor. The company officially moved in during August 2022.
On the Map
$59
$59/SF
Office
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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
268864.41%
Cash-on-Cash
-76842.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93