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230 Park Ave, New York, NY,...

TF Cornerstone Leases 360000 Square Feet At 230 Park Ave New York With Tenant's Representatives
LEASED

TF Cornerstone Leases 360000 Square Feet At 230 Park Ave New York With Tenant's Representatives

230 Park Ave, New York, NY, 10169

Building Size

360,000 SF

Asset Type

Closing

Nov 19, 2023

AI

The property involved in this transaction is located at 230 Park Ave, New York, NY, 10169. It is part of the New York market and consists of 360,000 square feet. The landlord for this lease is TF Cornerstone.

Summary of transaction details:

The lease transaction was facilitated by representatives from JLL, specifically Michael Greenberg, Cynthia Wasserberger, Hayley Schoener, and Joe Judge, who played a crucial role in the representation of the tenant in this deal.

Players

Michael Greenberg

Broker

$10.8M

vol

9 deals

Broker
Colliers
ColliersBrokerage
TF Cornerstone
TF CornerstoneLender
TF Cornerstone
TF CornerstoneLandlord

New York CRE Market Snapshot

Boundary boundary · CRE · 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