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245 Park Avenue

Updated Sep 17, 2026

Bilt advertisement
LEASEDOffice

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:

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

Justin Royce

Cushman & Wakefield

Broker

16 deals

Broker
Nearwater Management
Nearwater ManagementBuyer
Marc Holliday

Marc Holliday

SL Green Realty

Landlord

$10.7B

vol

54 deals

Landlord

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

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