New York State OGS Signs 15-Year Lease Expansion At 919 3rd Avenue In Midtown Manhattan
919 3rd Avenue
Building Size
—
Asset Type
Office
Closing
Oct 6, 2025
AI
The asset involved in this transaction is an office space located at 919 3rd Avenue in Midtown Manhattan, comprising 66,106 square feet. This property is fully leased and is owned by SL Green.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Lease Term: 15-year
- Landlord: Marc Holliday - SL Green
- Tenant: New York State OGS
- Address: 919 3rd Avenue
- Market: Midtown Manhattan
- Asset Square Footage: 66,106
- Total Space for Tenant: 117,390 square feet
- Building Height: 47 stories
The transaction involved key representatives from CBRE, including Stephen Siegel, Liz Lash, Robert Alexander, Ryan Alexander, Emily Jones Chabrier, Alexander D’Amario, Nicole Marshall, Peter Larkin, Mark Bezold, and Taylor Callaghan. This lease expansion marks a significant increase in the New York State OGS total space in the property.
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