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501 Seventh Avenue

Emilie Rubinfeld Of CBRE Represents Carolina Herrera In Lease Expansion At 501 Seventh Avenue
LEASEDOffice

Emilie Rubinfeld Of CBRE Represents Carolina Herrera In Lease Expansion At 501 Seventh Avenue

501 Seventh Avenue

Building Size

34,000 SF

Asset Type

Office

Closing

Apr 21, 2025

AI

The property asset involved in the transaction is an office located at 501 Seventh Avenue in Manhattan, encompassing a total area of 34,000 square feet. This transaction is part of a lease agreement, with the property being owned by Empire State Realty Trust.

Summary of transaction details:

This lease transaction involves Carolina Herrera, which has renewed and expanded its lease, increasing its office space within the Empire State Realty Trust’s building. The involvement of multiple real estate professionals highlights the collaborative effort in facilitating this deal.

Players

Cara Chayet

CBRE

Broker

6 deals

Broker

Anthony E. Malkin

Empire State Realty Trust

Landlord

$913M

vol

13 deals

Landlord

Terre Haute 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