Republic Subleases Office Space At 149 5th Avenue To Concourse For 3 Years At $70/ft
149 5th Avenue
$70
$70/SF
Building Size
5,553 SF
Asset Type
Office
Closing
Feb 1, 2026
About this deal
AI
The transaction involves an office space located at 149 5th Avenue in the Flatiron District, with a total area of 5,553 square feet. The asking rent for the property is set at $70 per square foot, and the lease term covers a duration of 3 years under a Modified Gross Lease agreement.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $70/ft
- Square Footage: 5,553
- Address: 149 5th Avenue
- Market: Flatiron District
- Sublandlord: Republic
- Subtenant: Concourse
- Sublandlord's Representative: Sam Einhorn
- Subtenant's Representative: Nicholas Hein - Nomad Group
- Lease Term: 3 years
- Lease Type: Modified Gross Lease
Key individuals in this transaction include Sam Einhorn representing the sublandlord, Republic, and Nicholas Hein from Nomad Group representing the subtenant, Concourse. Their involvement highlights the collaborative effort in finalizing the agreement for the office space.
On the Map
$70
$70/SF
Office
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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
226614.29%
Cash-on-Cash
-64767.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93