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:
- Property Type: Lease
- Transaction Amount: Not specified
- Address: 245 5th Ave, New York, NY, 10016
- Square Feet: 11,993
- Tenant: Payfone
- Landlord: The Moinian Group
- Tenant's Representative: Justin Myers (Lee & Associates), Dennis Someck (Lee & Associates)
- Landlord's Representative: Christel Engel (Colliers International), Gregg Weisser (Moinian Group)
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
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