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245 5th Ave, New York, NY, ...

Payfone Leases 11993 Square Feet At 245 5th Ave New York From The Moinian Group
LEASEDOffice

Payfone Leases 11993 Square Feet At 245 5th Ave New York From The Moinian Group

245 5th Ave, New York, NY, 10016

Building Size

11,993 SF

Asset Type

Office

Closing

Apr 25, 2019

AI

The property involved in this transaction is situated at 245 5th Ave, New York, NY, 10016. It amounts to a total square footage of 11,993. The transaction occurred in the New York market.

Summary of transaction details:

This transaction involved key individuals and companies, with Justin Myers and Dennis Someck representing the tenant, Payfone, and Christel Engel along with Gregg Weisser serving as representatives for the landlord, The Moinian Group.

Players

Christel Engel

Colliers

Broker

5 deals

Broker
The Moinian Group
The Moinian GroupBrokerage
The Moinian Group
The Moinian GroupLandlord

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