Kirkland & Ellis Expands Office Presence In Midtown East With Lease At 900 3rd Avenue
900 3rd Avenue
Building Size
131,000 SF
Asset Type
Office
Closing
Apr 2, 2025
About this deal
AI
The property asset involved in this transaction is an office space located at 900 3rd Avenue in Midtown East. The total square footage of the asset is 131,000 square feet, and the transaction is categorized as a lease agreement.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 900 3rd Avenue
- Market: Midtown East
- Landlord: Albert Behler - Paramount Group
- Tenant: Kirkland & Ellis
- Broker: Cushman & Wakefield
The individuals involved in this transaction include Albert Behler representing the landlord, Paramount Group, and Kirkland & Ellis, a Chicago-based law firm, is expanding its presence in New York City. The firm signed a lease for their second office in Midtown East.
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