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
About this deal
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.
On the Map
$102
$102/SF
Office
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Players
New York Office Market Snapshot
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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