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855 Avenue of the Americas,...

Nordstrom Rack Leases 46500 Square Feet At 855 Avenue Of The Americas From Durst Organization
LEASEDRetail

Nordstrom Rack Leases 46500 Square Feet At 855 Avenue Of The Americas From Durst Organization

855 Avenue of the Americas, New Yor...

Building Size

46,500 SF

Asset Type

Retail

Closing

Feb 15, 2017

AI

The property involved in this lease transaction is located at 855 Avenue of the Americas, New York. It encompasses a total square footage of 46,500 square feet. The landlord for this property is Durst Organization, while the tenant is Nordstrom Rack.

Summary of transaction details:

  • Property Type: Lease
  • Transaction Amount: Not disclosed
  • Address: 855 Avenue of the Americas, New York
  • Square Feet: 46,500
  • Tenant: Nordstrom Rack
  • Landlord: Durst Organization
  • Brokers: Eric Engelhardt - Durst Organization

This transaction involves Eric Engelhardt representing the landlord, Durst Organization. The tenant in this deal is Nordstrom Rack, indicating a strategic occupancy in a prominent location.

Players

Eric Engelhardt

Durst Organization

Broker

9 deals

Broker
Newmark
NewmarkBrokerage
Durst Organization
Durst OrganizationLandlord

Market Retail Market Snapshot

Boundary boundary · Retail · 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