Michael Bloomberg Expands Lease At SL Green Realty's 919 Third Avenue To 924,876 Square Feet
919 3rd Avenue
Building Size
924,876 SF
Asset Type
Office
Closing
Oct 16, 2024
About this deal
AI
The asset involved in this transaction is an office space located at 919 3rd Avenue in Midtown East, measuring 924,876 square feet. The landlord for this property is SL Green Realty.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 919 3rd Avenue
- Market: Midtown East
- Square Footage: 924,876
- Landlord: SL Green Realty
- Tenant: Michael Bloomberg - Bloomberg
- Brokers: Howard Fiddle, Christopher Mansfield, Zachary Weil, Ryan Luck, Robert Alexander, Ryan Alexander, Emily Chabrier, Taylor Callaghan, Alexander D’Amario & Nicole Marshall - CBRE
The deal includes an 11-year lease renewal and expansion for Bloomberg, set to begin in 2029. This follows a similar transaction where Bloomberg renewed an 11-year lease for 946,815 square feet at 731 Lexington Avenue in May.
On the Map
Office
View full map
Players
New York Office Market Snapshot
Boundary boundary · Office · Lease transactions
Loading comparables…
Deal FAQ
Browse New York office leases on Traded.
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