InStep Health Leases Office At 307 Fifth Avenue In Midtown Manhattan
307 5th Avenue
$42
$42/SF
Building Size
3,826 SF
Asset Type
Office
Closing
Mar 26, 2024
About this deal
AI
The office space located at 307 Fifth Avenue in Midtown South, Manhattan, was leased out to InStep Health. The property, owned by Elijah Equities, features a total square footage of 3,826 and was leased on a Modified Gross Lease with an asking rent of $42 per square foot.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 307 Fifth Avenue
- Market: Midtown South, Manhattan
- Landlord: Elijah Equities
- Tenant: InStep Health
- Broker: Mark Gindi - Gindi Realty Advisors
- Square Footage: 3,826
- Lease Type: Modified Gross Lease
Mark Gindi of Gindi Realty Advisors played a crucial role in securing the tenancy with InStep Health at 307 Fifth Avenue. Reflecting on the deal, Gindi emphasized the success of navigating complex negotiations and achieving the client's leasing goals. Additionally, Gindi mentioned that there is additional space available for leasing at the property for those interested in exploring opportunities.
On the Map
$42
$42/SF
Office
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
377690.48%
Cash-on-Cash
-107945.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93