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
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