Garage Technologies, Inc. Signs Lease For 11,000 SF Office At 139 Fifth Avenue For $70/ft
139 Fifth Avenue
$70
$70/SF
Building Size
11,000 SF
Asset Type
Office
Closing
Sep 1, 2026
About this deal
AI
The property asset involved in this lease transaction is located at 139 Fifth Avenue in the Flatiron District. It consists of an office space with a total area of 11,000 square feet. The asking rent for this property is set at $70 per square foot, and it operates under a Modified Gross Lease.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $770,000 (annual rent)
- Address: 139 Fifth Avenue
- Market: Flatiron District
- Landlord: Thor Equities
- Tenant: Garage Technologies, Inc.
- Landlord's Representative: Thomas Capuano & Christopher Okada - Okada & Company
- Tenant's Representative: RJ Johns & Leah Zafra - Cushman & Wakefield
This transaction was facilitated by key individuals including Thomas Capuano and Christopher Okada representing the landlord Thor Equities, and RJ Johns alongside Leah Zafra representing the tenant Garage Technologies, Inc. Their roles were critical in negotiating and finalizing the lease agreement for the specified office space.
On the Map
$70
$70/SF
Office
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Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
226614.29%
Cash-on-Cash
-64767.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93