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
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