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79 5th Avenue

Updated Oct 10, 2026

LEASEDOffice

Mira Murati's Thinking Machines Lab Leases 21,500 Square Feet At 79 Fifth Avenue

79 5th Avenue

Building Size

21,500 SF

Asset Type

Office

Closing

Aug 26, 2026

About this deal

AI

The property asset involved in the transaction is located at 79 5th Avenue in the Union Square market. The asset is an office space with a square footage of 21,500. It is now occupied under a lease agreement by Thinking Machines Lab, an AI research startup.

Summary of transaction details:

This transaction marks Thinking Machines Lab's expansion to New York, represented by brokers Justin Haber and Kyle Riker from JLL. The landlord, Joseph Kalimian, is represented by David Falk, Daniel Levine, and Dylan Weisman from Newmark.

On the Map

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Players

Kyle Riker

JLL

Broker

14 deals

Broker
David Falk
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David Falk

Newmark

Broker

64 deals

Broker

Joseph Kalimian

Broker

$5.7M

vol

3 deals

Broker
Thinking Machines Lab
Thinking Machines LabBuyer

Joseph Kalimian

Kalimian Properties

Landlord

$5.7M

vol

3 deals

Landlord
Mira Murati

Mira Murati

Thinking Machines Lab

Tenant

5 deals

Tenant
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Brooklyn Office Market Snapshot

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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

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