Cardinia Real Estate Leases 20310 SF Office At 280 Park Ave, New York
280 Park Ave, New York, NY 10017
Building Size
20,310 SF
Asset Type
Office
Closing
Dec 10, 2019
About this deal
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.
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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