LEASEDOffice
IMG Worldwide Renews 90,202 SF At SL Green's 304 Park Avenue South For Five Years
304 Park Avenue South
Building Size
90,202 SF
Asset Type
Office
Closing
Sep 16, 2026
About this deal
AI
The property asset involved in this lease transaction is located at 304 Park Avenue South in Manhattan. It encompasses an office space totaling 90,202 square feet, reflecting a renewal of the previous 130,655 square feet occupied by the tenant. The transaction is part of the Manhattan real estate market.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: N/A
- Address: 304 Park Avenue South
- Market: Manhattan
- Landlord: Marc Holliday - SL Green
- Tenant: IMG Worldwide
- Landlord's Representative: John Mambrino & David Providenti - Savills
- Tenant's Representatives: Brian Goldman, Matthew Leon & Jason Perla - Newmark
- Lease Terms: 5-year renewal
This transaction indicates IMG Worldwide's commitment to maintaining its presence in the Midtown South area with a five-year lease renewal at this location, facilitated by negotiations between the representatives from both sides. The lease is managed through experienced brokers from Savills and Newmark, highlighting the collaboration of key industry professionals in this deal.
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New York Office Market Snapshot
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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