Onyx Renewable Partners Leases 10,760 SF Mixed-use Space At 505 Fifth Avenue
505 5th Avenue
Building Size
10,760 SF
Asset Type
Mixed-use
Closing
Sep 29, 2023
AI
Decarbonization solutions firm Onyx Renewable Partners has secured a 10,760-square-foot lease at 505 Fifth Avenue in Midtown Manhattan. The mixed-use property will serve as Onyx Renewable Partners' new location.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: Not specified
- Square Footage: 10,760
- Address: 505 Fifth Avenue, Midtown Manhattan
Stawski Partners, represented by Faith Ryan, is the landlord of the property. Onyx Renewable Partners' representative is Mary Beth Mandanas. The lease term for this deal is 10 years.
The landlord's representatives in this transaction are Diana Biasotti, Kristen Morgan, Kyle Young, and Paul Glickman from JLL. On the other hand, Onyx Renewable Partners' representatives include Brian Goldman, Joshua Berg, and Scott Gutnick from Newmark, as well as Clark Finney and TJ Hochanadel from JLL.
NOTE: Onyx Renewable Partners, a decarbonization solutions firm, has secured a 10,760-square-foot lease at 505 Fifth Avenue.
Players
New York Mixed-use Market Snapshot
Boundary boundary · Mixed-use · 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