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200 5th Avenue

Goodwin Procter Leases 250000 Square Feet Office Space At 200 5th Avenue In New York
LEASEDOffice

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

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:

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.

Players

Mark Weiss

Cushman & Wakefield

Broker

$264.6M

vol

16 deals

Broker

Owen D. Thomas

BXP

Landlord

$2B

vol

20 deals

Landlord
B
BXPLandlord

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