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450 Park Avenue

LEASEDOffice

OceanSound Partners Signs Five-Year Lease For 32,032 Square Feet At SL Green's 450 Park Avenue

450 Park Avenue

Building Size

32,032 SF

Asset Type

Office

Closing

Aug 10, 2026

AI

The property asset involved in this transaction is located at 450 Park Avenue in Midtown Manhattan. This office asset comprises a total of 32,032 square feet and is part of a major lease agreement.

Summary of transaction details:

This lease transaction was facilitated by several brokers, including John Johnson from Savills and a team from CBRE comprising Paul Amrich, Neil King, Alexander D’Amario, Matthew Dichter, and Brooke Dewing. OceanSound Partners has expanded its footprint within the SL Green Realty portfolio through this agreement.

Players

Paul Amrich

CBRE

Broker

38 deals

Broker
OP
OceanSound PartnersBuyer
Marc Holliday

Marc Holliday

SL Green

Landlord

$10.2B

vol

47 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