facebook
TradedTraded
    Home
    Search
    Closings
    Listings
    On Market
    Off Market
    Add a listing
    Vaults
    shh
    Rankings
    News
    Data
    Socials
    More


Messages

Go Pro
+ Submit+ Submit a Deal
Home

/

Deals

/

New York

/

Office

/

Lease

/

90 Park Ave, New York, NY, ...

Vornado Realty Trust Leases 6000 Square Feet To Lenox Advisors At 90 Park Ave New York
LEASEDOffice

Vornado Realty Trust Leases 6000 Square Feet To Lenox Advisors At 90 Park Ave New York

90 Park Ave, New York, NY, 10016

Building Size

6,000 SF

Asset Type

Office

Closing

Apr 22, 2019

AI

The property involved in this transaction is located at 90 Park Avenue, New York, NY, 10016, within the New York market. The space encompasses 6,000 square feet situated on the 17th floor of the building. The lease involves a significant move for the tenant, Lenox Advisors, which is transitioning from its previous location at 530 Fifth Avenue. The property is owned by Vornado Realty Trust and features a recent renovation valued at $80 million.

Summary of transaction details:

  • Property Type: Lease
  • Transaction Amount: Not specified
  • Tenant: Lenox Advisors
  • Landlord: Vornado Realty Trust
  • Landlord's Representative: Andrew Ackerman (RXR Realty)
  • Address: 90 Park Ave, New York, NY, 10016
  • Square Feet: 6,000

MassMutual’s sales office is part of this relocation, with Lenox Advisors being a wealth management firm that sells MassMutual products. The companies plan to complete their move to the new space by the end of next year.

Players

Andrew Ackerman

RXR Realty

Broker

12 deals

Broker
Vornado Realty Trust
Vornado Realty TrustLandlord

New York Office Market Snapshot

Boundary boundary · Office · Lease transactions

Loading comparables…

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