S.L. Home Fashions Extends Lease With GFP Real Estate For 10176 Square Feet In Manhattan
230 5th Avenue
$56
$56/SF
Building Size
10,176 SF
Asset Type
Office
Closing
Oct 14, 2024
About this deal
AI
The property asset involved in this transaction is an office and retail space located at 230 5th Avenue in Manhattan. The lease agreement covers a total area of 10,176 square feet and comes with an asking rent of approximately $56 per square foot.
Summary of transaction details:
- Property Type: Office & Retail
- Transaction Amount: $56/ft
- Address: 230 5th Avenue
- Market: Manhattan
- Lease Term: Six years
- Landlord: GFP Real Estate
- Tenant: S.L. Home Fashions
- Brokers: Harvey Richer & Jane Gural-Senders - GFP Real Estate
The tenants, S.L. Home Fashions, have notably extended and expanded their lease with GFP Real Estate, indicating a commitment to the location. The representation in this transaction was handled by brokers Jane Gural-Senders and Harvey Richer from GFP Real Estate.
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
283267.86%
Cash-on-Cash
-80958.82%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93