Goodwin Procter Leases 250000 Square Feet Office Space At 200 5th Avenue In New York
200 5th Avenue
Building Size
250,000 SF
Asset Type
Office
Closing
Apr 3, 2025
About this deal
AI
The property asset involved in this transaction is an office space located at 200 5th Avenue in the Flatiron District. The asset encompasses 250,000 square feet, with a 20-year lease established for its use.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Landlord: Owen D. Thomas & Hilary Spann - BXP
- Tenant: Anthony McCusker - Goodwin Procter
- Brokers: Anthony LoPresti, Bianca DiMauro, Bruce Mosler, Ethan Silverstein & Mark Weiss - Cushman & Wakefield
- Lease Term: 20 years
Goodwin Procter has signed a lease for the above-mentioned office space, which signifies the company's relocation from The New York Times Building, indicating a strategic move within New York's commercial real estate market.
On the Map
Office
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New York Office Market Snapshot
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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