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155 5th Avenue

Vitesse PSP, Inc Leases Office Space At 155 5th Avenue From The Ertez Group
LEASEDOffice

Vitesse PSP, Inc Leases Office Space At 155 5th Avenue From The Ertez Group

155 5th Avenue

$73

$73/SF

Building Size

5,200 SF

Asset Type

Office

Closing

Apr 11, 2025

AI

The property asset involved in this transaction is located at 155 5th Avenue in the Flatiron District, characterized as an office space with a square footage of 5,200. The asking rent for the space is set at $73 per square foot, under a Single Net Lease structure.

Summary of transaction details:

This transaction includes key individuals representing both the landlord and tenant. The landlord's representatives are associated with Platinum Properties, while Cresa represents the tenant. This highlights the collaborative effort among brokers to facilitate the lease agreement.

Players

Steven Evans

Platinum Commercial

Broker

$36.1M

vol

47 deals

Broker

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