Savills Signs 5-Year Lease For 20,500 Square Feet At 560 Lexington Avenue From Rudin Management Company
560 Lexington Avenue
Building Size
20,500 SF
Asset Type
Office
Closing
Aug 27, 2026
About this deal
AI
The property asset involved in this transaction is located at 560 Lexington Avenue in the Plaza District, comprising a total square footage of 20,500. This office space is managed by Michael Rudin and Samantha Rudin Earls through Rudin Management Company.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 560 Lexington Avenue
- Market: Plaza District
- Lease Terms: 5 years
- Landlord: Michael Rudin & Samantha Rudin Earls - Rudin Management Company
- Tenant: Savills
- Brokers: Brett Shannon, Peter Turchin, Eric Deutsch, Lauren Levy, Jacob Rosenthal - CBRE
Savills, specializing in program and project management, entered into a five-year lease agreement for the third floor of the property, thereby occupying the entire floor space available. The brokers involved in this deal were from CBRE, with significant participation from Brett Shannon, Peter Turchin, Eric Deutsch, Lauren Levy, and Jacob Rosenthal.
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