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575 Lexington Ave, New York...

Emerald Creek Capital Leases 5030 Square Feet At 575 Lexington Ave New York With Landlord George Comfort & Sons
LEASED

Emerald Creek Capital Leases 5030 Square Feet At 575 Lexington Ave New York With Landlord George Comfort & Sons

575 Lexington Ave, New York, NY, 100...

Building Size

5,030 SF

Asset Type

Closing

Nov 19, 2023

AI

The property involved in this transaction is located at 575 Lexington Ave, New York, NY. The transaction pertains to a lease agreement for a total square footage of 5,030 in the New York market.

Summary of transaction details:

  • Property Type: Lease
  • Transaction Amount: Not specified
  • Square Feet: 5,030
  • Address: 575 Lexington Ave, New York, NY, 100...
  • Market: New York
  • Landlord: George Comfort & Sons
  • Landlord's Representative: Dana Pike-George Comfort & Sons
  • Tenant: Emerald Creek Capital

The key individuals involved in the transaction include Dana Pike representing the landlord, George Comfort & Sons, while Emerald Creek Capital serves as the tenant in this lease agreement.

Players

Dana Pike

George Comfort & Sons

Broker

4 deals

Broker
Emerald Creek Capital
Emerald Creek CapitalLender

George Comfort

Sons

Landlord

$219.5M

vol

9 deals

Landlord
Emerald Creek Capital
Emerald Creek CapitalTenant

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