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1251 Avenue of the Americas...

Waterfall Asset Management Leases 44100 Square Feet From Mitsui Fudosan America At 1251 Avenue Of The Americas
LEASEDOffice

Waterfall Asset Management Leases 44100 Square Feet From Mitsui Fudosan America At 1251 Avenue Of The Americas

1251 Avenue of the Americas, New Yo...

Building Size

44,100 SF

Asset Type

Office

Closing

Nov 29, 2018

AI

The property involved in this lease transaction is located at 1251 Avenue of the Americas, New York, and encompasses a total area of 44,100 square feet. The transaction is between Waterfall Asset Management, the tenant, and Mitsui Fudosan America, the landlord.

Summary of transaction details:

  • Property Type: LEASE
  • Transaction Amount: Not specified
  • Address: 1251 Avenue of the Americas, New York
  • Tenant: Waterfall Asset Management
  • Landlord: Mitsui Fudosan America
  • Square Feet: 44,100

In this transaction, the representatives for the tenant include Keith Caggiano from Avison Young, Christopher Kraus from JLL, and James Travers from Cresa Los Angeles. The landlord is represented by Eric Cagner from Newmark, while David Falk from Newmark is also noted as a broker involved in the deal.

Players

David Falk
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David Falk

Newmark

Broker

61 deals

Broker

Peter Shimkin

Newmark

Broker

$10M

vol

33 deals

Broker
Mitsui Fudosan America
Mitsui Fudosan AmericaLandlord

Market 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