DoorDash Secures 115,382 SF Office Lease At 200 Fifth Avenue In Manhattan
200 5th Avenue
$81
$81/SF
Building Size
115,382 SF
Asset Type
Office
Closing
Jan 5, 2024
AI
Hilary Spann of Boston Properties has leased out 115,382 square feet of office space at 200 Fifth Avenue in Manhattan to DoorDash, doubling the food delivery company's footprint in the Midtown South location. The lease term spans 11-and-a-half years. The eighth and ninth floors of the building will house DoorDash's expanded office.
Summary of transaction details
- Property Type: Office
- Transaction Amount: Not specified
- Address: 200 5th Avenue
- Market: Manhattan
- Landlord: Hilary Spann - Boston Properties
- Tenant: Ari Sacharow - DoorDash
- Brokers: Adam Ardise, Anthony LoPresti, Bianca DiMauro, Bruce Mosler, Ethan Silverstein & Greg Pickett - Cushman & Wakefield
- Asking Rent: $81.35/ft
- Lease Term: 11-and-a-half-year lease
The 11-and-a-half year lease agreement for 115,382 square feet of office space at 200 Fifth Avenue has been facilitated by brokers Adam Ardise, Anthony LoPresti, Bianca DiMauro, Bruce Mosler, Ethan Silverstein, and Greg Pickett of Cushman & Wakefield.
Players
New York Office Market Snapshot
Boundary boundary · Office · Lease transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
195839.51%
Cash-on-Cash
-55971.53%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93