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551 5th Avenue

National Women’s Soccer League Leases 21,000 Square Feet At 551 5th Avenue In Midtown Manhattan
LEASEDCommercial

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

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:

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.

Players

Patrick Moroney

CBRE

Broker

2 deals

Broker
Jeffrey Feil

Jeffrey Feil

Landlord

$512.5M

vol

24 deals

Landlord

New York Commercial Market Snapshot

Boundary boundary · Commercial · 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