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307 5th Avenue

InStep Health Leases Office At 307 Fifth Avenue In Midtown Manhattan
LEASEDOffice

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

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.

Players

Mark Gindi

Gindi Realty Advisors

Broker

7 deals

Broker

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

377690.48%

Cash-on-Cash

-107945.10%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93