Nearwater Management Leases 37,563 Square Feet At 245 Park Avenue For Eight Years
245 Park Avenue
Building Size
37,563 SF
Asset Type
Office
Closing
Sep 16, 2026
About this deal
AI
The property asset involved in this transaction is located at 245 Park Avenue, Manhattan. The asset is categorized as office space, consisting of 37,563 square feet available for lease.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 245 Park Avenue
- Market: Manhattan
- Lease Terms: 8 years
- Landlord: Marc Holliday - SL Green Realty
- Tenant: Nearwater Management
- Landlord's Representative: Bruce Mosler, Harry Blair, Ron Lo Russo, Justin Royce & Pierce Hance - Cushman & Wakefield
- Tenant's Representative: Alexander Chudnoff & Harrison Potter - JLL
This transaction involved key individuals and representatives from both the landlord and tenant sides. Marc Holliday is representing SL Green Realty as the landlord. Nearwater Management is facilitated by Alexander Chudnoff and Harrison Potter from JLL in their leasing needs. The representation for the landlord includes Bruce Mosler, Harry Blair, Ron Lo Russo, Justin Royce, and Pierce Hance from Cushman & Wakefield.
Players
New York 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