GFP Real Estate Leases 11880 Square Feet At 169 Madison Ave New York To Tenant Represented By Christel Engel
169 Madison Ave, New York, NY, 10016
Building Size
11,880 SF
Asset Type
Office
Closing
May 23, 2022
AI
The property involved in the transaction is located at 169 Madison Ave, New York, NY, 10016. The asset encompasses a total of 11,880 square feet and falls within the New York market. GFP Real Estate serves as the landlord for this lease agreement.
Summary of transation details:
- Property Type: Lease
- Transaction Amount: Not applicable
- Address: 169 Madison Ave, New York, NY, 10016
- Market: New York
- Square Feet: 11,880
- Landlord: GFP Real Estate
- Tenant's Representative: Christel Engel (Colliers International)
This transaction highlights the role of Christel Engel from Colliers International, who represents the tenant in the lease agreement. The involvement of a dedicated tenant's representative signifies the importance of professional guidance in securing suitable leasing arrangements in the competitive New York market.
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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93