MetLife Expands Office Space At Irvine Company's 200 Park Avenue To 500,000 Square Feet
200 Park Avenue
Building Size
500,000 SF
Asset Type
Office
Closing
Nov 5, 2026
About this deal
AI
The property involved in this transaction is an office asset located at 200 Park Avenue in Midtown Manhattan, encompassing a total space of 500,000 square feet. It is classified as an office asset under the management of Irvine Company.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not applicable
- Asset Size: 500,000 square feet
- Address: 200 Park Avenue
- Market: Midtown Manhattan
- Landlord: Jonathan Brinsden & Frank Abeling - Irvine Company
- Tenant: Michel A. Khalaf - MetLife
In this transaction, MetLife's expansion at Irvine Company’s 200 Park Avenue reflects an increase in its office space from approximately 450,000 to 500,000 square feet, highlighting the tenant's growth and commitment to the location.
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