Knotel Leases 28820 Square Feet At 5 Hanover Square From CIM Group With Elie Reiss As Rep
5 Hanover Square, New York, NY, 10004
Building Size
28,820 SF
Asset Type
—
Closing
Nov 19, 2023
AI
The property asset involved in the transaction is located at 5 Hanover Square, New York, NY, 10004. It is a leased space with a total area of 28,820 square feet and is situated in the New York market.
Summary of transaction details:
- Property Type: Lease
- Transaction Amount: Not specified
- Address: 5 Hanover Square, New York, NY, 10004
- Market: New York
- Tenant: Knotel
- Landlord: CIM Group
- Tenant's Representative: Elie Reiss-Skylight Leasing
The deal involves tenant Knotel, represented by Elie Reiss from Skylight Leasing. The landlord of the property is CIM Group, ensuring the leasing agreement is aligned with their portfolio and management strategies.
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