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:
- Property Type: Office
- Transaction Amount: $73/ft
- Square Footage: 5,200
- Address: 155 5th Avenue
- Market: Flatiron District
- Landlord: The Ertez Group
- Tenant: Vitesse PSP, Inc
- Landlord's Representative: Steven Evans, Emre Bozkurt, Joseph Zalta & Brian Peer - Platinum Properties
- Tenant's Representative: Alex Gerome & Andy Roberts - Cresa
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
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