LEASEDOffice
The Conference Board Signs 20-Year Lease With Global Holdings At 875 Third Avenue In Midtown
875 3rd Avenue
Building Size
30,171 SF
Asset Type
Office
Closing
Jul 14, 2025
About this deal
AI
The property asset involved in this transaction is an office space located at 875 3rd Avenue in Midtown Manhattan, encompassing a total square footage of 30,171. The lease was executed in the context of the Midtown Manhattan market.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: 20-year lease
- Address: 875 3rd Avenue
- Market: Midtown Manhattan
- Landlord: Steven Petrevski - Global Holdings
- Tenant: Steve Odland - The Conference Board
The deal involves The Conference Board signing a lease with Global Holdings to relocate its headquarters to the specified address. The effective date for the move is scheduled for March of the upcoming year.
On the Map
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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93