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5 Hanover Square, New York,...

Knotel Leases 28820 Square Feet At 5 Hanover Square From CIM Group With Elie Reiss As Rep
LEASED

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.

Players

Robert Wizenberg

JLL

Broker

13 deals

Broker
Knotel
KnotelBrokerage
CIM Group
CIM GroupLender
CIM Group
CIM GroupLandlord
Knotel
KnotelTenant

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