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230 5th Avenue, New York, N...

LEASEDOffice

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

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:

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.

Players

Gregory Gang

Endurance Real Estate Group LLC

Broker

$6.2M

vol

6 deals

Broker
GFP Real Estate
GFP Real EstateLandlord

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