Eretz Group Leases Office Space To Maniere De Voir In Flatiron District For $73/ft
155 5th Avenue
$73
$73/SF
Building Size
5,200 SF
Asset Type
Office
Closing
Oct 27, 2024
AI
The property asset involved in this transaction is located at 155 5th Avenue in the Flatiron District. It is designated as an office space with a total square footage of 5,200. The asking rent for the property is set at $73 per square foot. The lease type entered into for this asset is a Modified Gross Lease.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $73/ft
- Address: 155 5th Avenue
- Market: Flatiron District
- Landlord: Eretz Group
- Tenant: Maniere De Voir
- Landlord's Representative: Steven Evans, Emre Bozkurt & Joseph Zalta - Platinum Properties
- Tenant's Representative: George Skaliarinis - KSR & Sonny Braha - Crown Onyx Advisors
- Lease Type: Modified Gross Lease
The deal involved multiple key individuals and companies. The representatives for the landlord included Steven Evans, Emre Bozkurt, and Joseph Zalta from Platinum Properties, while the tenant's side was represented by George Skaliarinis of KSR and Sonny Braha from Crown Onyx Advisors.
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
217301.37%
Cash-on-Cash
-62105.40%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93