Legora Signs 10-Year Lease For 98,420 Square Feet At 11 Madison Avenue In Flatiron District
11 Madison Avenue
Building Size
98,420 SF
Asset Type
Office
Closing
Jul 23, 2026
About this deal
AI
The transaction involves an office asset located at 11 Madison Avenue in the Flatiron District, featuring a total of 98,420 square feet. The lease was secured for a duration of 10 years, and the building is now at full occupancy.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not disclosed
- Address: 11 Madison Avenue
- Market: Flatiron District
- Landlord: Marc Holliday - SL Green
- Tenant: Max Junestrand - Legora
- Landlord's Representatives: Brian Waterman, Brent Ozarowski & Erik Harris - Newmark
- Tenant's Representatives: Justin Haber & Kyle Riker - JLL
- Lease Terms: 10-year lease
Legora, a legal AI startup based in Sweden, is expanding its presence in New York through this significant lease agreement. This move highlights the increased demand for office space in the area, facilitated by the expertise of the representatives from Newmark and JLL, who played key roles in finalizing the lease.
On the Map
Office
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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