Nick Patrick Of Radar Labs Signs Seven-Year Lease For 20000 Sq Ft Office In Union Square
111 5th Avenue
Building Size
20,000 SF
Asset Type
Office
Closing
Apr 17, 2025
About this deal
AI
The property asset involved in this transaction is located at 111 5th Avenue in the Union Square market. It is an office space with a total area of 20,000 square feet. The lease was signed for a duration of seven years.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not disclosed
- Address: 111 5th Avenue
- Market: Union Square
- Landlord: Winter Organization
- Tenant: Nick Patrick - Radar Labs
- Brokers: Anthony Sciacca, Jonathan Franzel, Leo Koné & Robert Silver - Newmark
In this transaction, the geolocation platform Radar Labs, represented by Nick Patrick, is moving from its current location at 841 Broadway, which is six blocks away from the new office at 111 5th Avenue.
On the Map
Office
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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