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122 5th Avenue

Chime Leases 84000 Square Feet Office Space At 122 5th Avenue From Bromley Companies
LEASEDOffice

Chime Leases 84000 Square Feet Office Space At 122 5th Avenue From Bromley Companies

122 5th Avenue

Building Size

84,000 SF

Asset Type

Office

Closing

May 8, 2025

AI

The property asset involved in this transaction is an office space located at 122 5th Avenue in the Flatiron District. It encompasses a total square footage of 84,000, supporting the operational needs of commercial tenants.

Summary of transaction details:

Key individuals involved in the deal include Nicholas Haines, representing Bromley Companies as the landlord, and Chime as the tenant. The transaction was brokered by a team of representatives from Newmark for the landlord and Cresa for the tenant. This lease marks the relocation of Chime's NYC offices, previously situated at 101 Greenwich Street.

Players

Gregg Cohen

Cresa

Broker

3 deals

Broker
David Falk
Verified Badge

David Falk

Newmark

Broker

61 deals

Broker

New York Office Market Snapshot

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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