Nutter Expands Lease To 11,438 Square Feet At 5 Grand Central East In Manhattan
5 Grand Central East
Building Size
11,438 SF
Asset Type
Office
Closing
Aug 26, 2026
About this deal
AI
The asset involved in this transaction is an office property located at 5 Grand Central East, situated in the Manhattan market. The property encompasses 11,438 square feet and includes the entire 25th floor, in addition to a renewed lease on the 27th floor.
Summary of transation details:
- Property Type: Office
- Transaction Amount: Not disclosed
- Square Footage: 11,438
- Address: 5 Grand Central East
- Market: Manhattan
- Landlord: Jody Durst - Durst Organization
- Tenant: Nutter
- Landlord's Representative: Tom Bow, Ashlea Aaron, Sayo Kamara, Bailey Caliban - Durst Organization
- Tenant's Representative: Mike Joyce, Trevor Larkin - CBRE
This transaction highlights the involvement of Jody Durst from the Durst Organization as the landlord, while law firm Nutter is represented by Mike Joyce and Trevor Larkin from CBRE. The lease reflects Nutter's expansion in the property, solidifying their presence in the Manhattan office market.
Players
Brooklyn 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