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:
- Property Type: Office
- Transaction Amount: Not disclosed
- Address: 79 5th Avenue
- Market: Union Square
- Landlord: Joseph Kalimian - Kalimian Properties
- Tenant: Mira Murati - Thinking Machines Lab
- Landlord's Rep: David Falk, Daniel Levine & Dylan Weisman - Newmark
- Tenant's Rep: Justin Haber & Kyle Riker - JLL
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.
Players
Brooklyn Office Market Snapshot
Boundary boundary · Office · Lease transactions
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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