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
About this deal
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:
- Property Type: Office
- Transaction Amount: Not disclosed
- Address: 257 Park Avenue South
- Market: Gramercy
- Landlord: Jeffrey J. Feil - The Feil Organization
- Tenant: James Shay - ISAIA
- Landlord's Representative: Andrew Wiener & Robert Fisher - The Feil Organization
- Tenant's Representative: Alexander Chudnoff & Henry Korzec - JLL
- Lease Terms: 10-year lease renewal
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.
On the Map
Office
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Players
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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