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1501 3rd Ave, New York, NY,...

Fox's Designer Off-Price Leases Office Space At 1501 3rd Ave, New York
LEASEDOffice

Fox's Designer Off-Price Leases Office Space At 1501 3rd Ave, New York

1501 3rd Ave, New York, NY, 10028

$102

$102/SF

Building Size

7,500 SF

Asset Type

Office

Closing

Mar 1, 2016

AI

The office property located at 1501 3rd Ave, New York, NY, 10028, boasts 7,500 square feet of space leased by Fox’s Designer Off-Price. The lease, finalized on 03/01/2016, was facilitated at a rate of $102 per square foot, with Newmark representing the tenant and SMA Equities acting as the landlord in the transaction.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not specified
  • Tenant: Fox’s Designer Off-Price
  • Tenant's Rep: Lucas Kooyman (Newmark)
  • Landlord: SMA Equities
  • Landlord's Rep: Stu Morden
  • Market: New York

The deal involved the renowned tenant representative Lucas Kooyman from Newmark and Stu Morden, who represented SMA Equities as the landlord's representative. The successful lease agreement showcases the collaborative efforts of these key individuals and companies in New York's competitive office real estate market.

Players

Stu Morden

Broker

3 deals

Broker
SMA Equities
SMA EquitiesLandlord

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

155519.61%

Cash-on-Cash

-44447.98%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93