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280 Park Ave, New York, NY,...

Cardinia Real Estate Leases 20310 SF Office At 280 Park Ave, New York
LEASEDOffice

Cardinia Real Estate Leases 20310 SF Office At 280 Park Ave, New York

280 Park Ave, New York, NY, 10020

Building Size

20,310 SF

Asset Type

Office

Closing

Dec 10, 2019

AI

The office asset located at 280 Park Ave, New York, NY, 10020, spanning 20,310 square feet, was part of a lease transaction between the tenant, Cardinia Real Estate, and the landlord, SL Green. The deal was facilitated by the tenant's representative, Stephen Siegel of CBRE, and the landlord's representative, Mary Ann Tighe, also of CBRE.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not Applicable
  • Address: 280 Park Ave, New York, NY, 10020
  • Market: New York
  • Tenant's Rep: Stephen Siegel (CBRE)
  • Landlord's Rep: Mary Ann Tighe (CBRE)
  • Tenant: Cardinia Real Estate
  • Landlord: SL Green
  • Square Feet: 20,310

The brokerage services in this transaction were provided by Ileen Schoenfeld of Brown Harris Stevens. The involvement of these key individuals ensured the successful leasing of the office space at 280 Park Ave, further solidifying the real estate landscape in New York.

Players

Stephen Siegel

CBRE

Broker

$85M

vol

9 deals

Broker
SL Green
SL GreenLandlord

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