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875 Avenue of the Americas,...

Updated Nov 27, 2024

Cambridge Insurance Advisors Leases Office Space At 875 Avenue Of The Americas
LEASEDOffice

Cambridge Insurance Advisors Leases Office Space At 875 Avenue Of The Americas

875 Avenue of the Americas, New Yor...

Building Size

3,809 SF

Asset Type

Office

Closing

Jul 2, 2019

About this deal

AI

The property at 875 Avenue of the Americas, New York, involving an office asset with a total square footage of 3809, was leased on 07/02/2019. The landlord, Lee & Associates NYC, represented by Michael Kaufman from Sotheby's International Realty, finalized the deal with the tenant, Cambridge Insurance Advisors.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not Applicable
  • Address: 875 Avenue of the Americas, New York
  • Landlord's Representative: Michael Kaufman (Sotheby's International Realty)
  • Tenant: Cambridge Insurance Advisors
  • Landlord: Lee & Associates NYC
  • Square Feet: 3809

The involvement of Michael Kaufman from Sotheby's International Realty as the Landlord's Representative was crucial in facilitating the lease between Lee & Associates NYC and the tenant, Cambridge Insurance Advisors, for the office space located at 875 Avenue of the Americas, New York.

Players

Michael Kaufman

Sotheby's International Realty

Broker

$1.5M

vol

2 deals

Broker
Lee & Associates
Lee & AssociatesLandlord

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

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