Mecka AI Leases 8,000 SF Office Space At 499 Seventh Avenue In Midtown Manhattan For $54/ft
499 Seventh Avenue
$54
$54/SF
Building Size
8,000 SF
Asset Type
Office
Closing
May 26, 2026
About this deal
AI
The property asset involved in this transaction is an office space located at 499 Seventh Avenue, situated in the Midtown Manhattan market. The property encompasses a total area of 8,000 square feet and operates under a Modified Gross Lease with an asking rent of $54 per square foot.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $54/ft
- Address: 499 Seventh Avenue
- Market: Midtown Manhattan
- Square Footage: 8,000
- Lease Type: Modified Gross Lease
- Tenant: Mecka AI
- Landlord's Representative: Elliot Zelinger & Brian Neugeboren - Savitt Partners
- Tenant's Representative: Allen Wang - Foundation CRE
In this transaction, the key individuals involved include Elliot Zelinger and Brian Neugeboren representing the landlord through Savitt Partners. Meanwhile, Allen Wang serves as the representative for the tenant, Mecka AI, under Foundation CRE.
On the Map
$54
$54/SF
Office
View full map
Players
New York Office Market Snapshot
Boundary boundary · Office · Lease transactions
Loading comparables…
Deal FAQ
Visit Elliot Zelinger to view all their deals.
Browse New York office leases on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
293759.26%
Cash-on-Cash
-83957.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93