Monroe Capital Leases 30th Floor Office Space At 320 Park Avenue From Munich Re
320 Park Avenue New
$170
$170/SF
Building Size
15,000 SF
Asset Type
Office
Closing
Jun 30, 2025
About this deal
AI
The property involved in this lease transaction is an office asset located at 320 Park Avenue in Manhattan. The asking rent for the space is $170 per square foot for a total of 15,000 square feet. Monroe Capital has expanded its office presence by leasing an additional 15,000 square feet, allowing them to occupy the entire 21st and 30th floors of Munich Re’s building.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 320 Park Avenue
- Market: Manhattan
- Landlord: Munich Re
- Tenant: Theodore L. Koenig - Monroe Capital
- Landlord's Representative: Frank Doyle, David Kleiner & Carlee Palmer - JLL
- Tenant's Representative: Greg Taubin - Savills
- Asking Rent: $170/ft
- Square Footage of Lease: 15,000
The key individuals involved in this transaction include Frank Doyle, David Kleiner, and Carlee Palmer, who represent Munich Re through JLL, while Greg Taubin represents Monroe Capital through Savills. This transaction reflects Monroe Capital's strategic decision to double its workspace at this location.
On the Map
$170
$170/SF
Office
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
93311.76%
Cash-on-Cash
-26668.79%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93