AdMarketplace Expands Headquarters At 90 Park Avenue In Murray Hill, Manhattan With $60/ft Sublease
90 Park Avenue
$60
$60/SF
Building Size
39,253 SF
Asset Type
Office
Closing
Oct 11, 2023
AI
The lease at 90 Park Avenue in Murray Hill, Manhattan has allowed adMarketplace, an online advertising platform, to expand its corporate headquarters. The lease is for a sublease office space, doubling adMarketplace's office space to 39,253 square feet. The asking rent for the space is $60 per square foot.
Summary of transaction details
- Property Type: Office
- Address: 90 Park Avenue, Murray Hill, Manhattan
- Market: Murray Hill, Manhattan
- Tenant: adMarketplace
- Brokers: Oren Alexander, Tal Alexander (Official), Roshan Shah (Avison Young)
- Asking Rent: $60 per square foot
- Square Footage: 39,253
- Lease Type: Sublease
The deal was facilitated by Oren Alexander and Tal Alexander, the official brokers, as well as Roshan Shah from Avison Young. The lease agreement allows adMarketplace to expand its operations and enhance its presence in Murray Hill.
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
264383.33%
Cash-on-Cash
-75561.57%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93