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1235 5th Avenue, New York C...

Friends Of The Children Leases Office Space In Harlem From Tahl Propp Equities
LEASEDOffice

Friends Of The Children Leases Office Space In Harlem From Tahl Propp Equities

1235 5th Avenue, New York City, New York 10011, United States

Building Size

6,926 SF

Asset Type

Office

Closing

Sep 19, 2022

AI

An office space located at 1235 Fifth Avenue in Harlem has been leased. The property, measuring 6,926 square feet, was leased by Friends of the Children. The deal was brokered by Paul Walker and Laurence Briody from CBRE on behalf of the tenant. The landlord for this transaction is Tahl Propp Equities.

Summary of Transaction Details

  • Property Type: Office
  • Asking Rent: $55/ft.
  • Date: 09/20/2022
  • Address: 1235 Fifth Avenue, Harlem
  • Tenant: Friends of the Children
  • Landlord: Tahl Propp Equities
  • Brokers: Paul Walker & Laurence Briody - CBRE
  • Square Footage: 6,926

Laurence Briody and Paul Walker from CBRE played a key role in this leasing deal. They successfully represented Friends of the Children, securing the office space at 1235 Fifth Avenue.

Players

Paul Walker

CBRE

Broker

2 deals

Broker
E
EquitiesLandlord
FC
Friends of the ChildrenTenant

New York Office Market Snapshot

Boundary boundary · Office · 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