Updated May 12, 2025
National Women’s Soccer League Leases 21,000 Square Feet At 551 5th Avenue In Midtown Manhattan
551 5th Avenue
Building Size
21,000 SF
Asset Type
Commercial
Closing
May 4, 2025
About this deal
AI
The property involved in this lease transaction is a commercial asset located at 551 5th Avenue in Midtown Manhattan. The total square footage of the asset is 21,000 square feet.
Summary of transaction details:
- Property Type: Commercial
- Transaction Amount: Not disclosed
- Address: 551 5th Avenue
- Market: Midtown Manhattan
- Landlord: Jeffrey Feil
- Tenant: National Women’s Soccer League
- Landlord's Representative: Andrew Wiener, Kevin Driscoll - The Feil Organization & Henry Korzec - Feil Organization
- Tenant's Representative: Conor Denihan & Patrick Moroney - CBRE
The National Women’s Soccer League has expanded its operational footprint by signing a lease for 21,000 square feet at the Fred D. French Building. This new lease doubles the space previously held at 292 Madison Ave.
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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