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90 Park Avenue

AdMarketplace Expands Headquarters At 90 Park Avenue In Murray Hill, Manhattan With $60/ft Sublease
LEASEDOffice

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

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

Oren Alexander

Official

Broker

$2B

vol

106 deals

Broker

New York Office Market Snapshot

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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