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257 Park Avenue South

LEASEDOffice

ISAIA Signs 10-Year Lease Renewal For 13,000 Square Foot Showroom At 257 Park Avenue South

257 Park Avenue South

Building Size

13,000 SF

Asset Type

Office

Closing

Jul 21, 2026

AI

The property asset involved in this transaction is an office space located at 257 Park Avenue South in the Gramercy market of Manhattan. This space encompasses a total of 13,000 square feet and serves as a showroom for the tenant, ISAIA.

Summary of transaction details:

Key individuals involved in this transaction include Jeffrey J. Feil representing the landlord alongside Andrew Wiener and Robert Fisher, while James Shay represents the tenant ISAIA with the assistance of Alexander Chudnoff and Henry Korzec from JLL.

Players

Alexander Chudnoff

JLL

Broker

$38.2M

vol

20 deals

Broker

Jeffrey J. Feil

The Feil Organization

Landlord

$51.5M

vol

8 deals

Landlord
James Shay

James Shay

ISAIA

Tenant
Tenant

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