Lorient Leases 5,556 Square Feet At 825 Third Avenue Manhattan With Durst Organization As Landlord
825 3rd Avenue
Building Size
5,556 SF
Asset Type
Office
Closing
Oct 7, 2026
About this deal
AI
The asset involved in this transaction is an office space located at 825 3rd Avenue in Manhattan, covering 5,556 square feet. The lease was signed by Lorient, a health care-focused investment firm, for its first office in New York City.
Summary of transation details:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 825 3rd Avenue
- Market: Manhattan
- Square Footage: 5,556
- Landlord: Jonathan Durst - Durst Organization
- Tenant: Lorient
- Landlord's Representatives: Tom Bow, Ashlea Aaron, Bailey Caliban, Sayo Kamara - Durst Organization
- Tenant's Representatives: Dennis Someck, Justin Myers - Lee & Associates
This lease represents a significant movement for Lorient within the New York City market, facilitated by the expertise of their representatives from Lee & Associates. The involvement of the Durst Organization and its representatives indicates a professional collaboration in securing the office space for the tenant.
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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