Creative Home Ideas Leases Office And Showroom Space At 230 Fifth Avenue In NoMad
230 5th Avenue, New York, NY 10001
Building Size
37,000 SF
Asset Type
Office
Closing
Jun 14, 2020
About this deal
AI
The property involved in this transaction is an office and showroom located at 230 Fifth Avenue in the NoMad market. The asset has a total square footage of 37,000 and the asking rent was set at $54 per square foot.
Summary of transaction details:
- Property Type: Office & Showroom
- Transaction Amount: $54/ft
- Address: 230 Fifth Avenue
- Market: NoMad
- Tenant: Creative Home Ideas
- Landlord: GFP Real Estate
- Brokers: Gregory Gang, Richard Plehn, Lisa Ann Pollakowski & Woody King
In this deal, Creative Home Ideas secured the lease under the management of GFP Real Estate, demonstrating an engagement by key brokers Gregory Gang, Richard Plehn, Lisa Ann Pollakowski, and Woody King in facilitating the transaction. The lease represents a significant step for the tenant in occupying a space tailored for both office use and showroom purposes.
On the Map
Office
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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