Hivemind Capital Acquires Office Space At 315 Park Avenue South In Flatiron For 3-Year Lease
315 Park Avenue South, New York City, New York 10010, United States
Building Size
—
Asset Type
Office
Closing
Aug 11, 2022
AI
315 Park Avenue South in the Flatiron district was recently leased for a term of 3 years. The office space, spanning 7,137 square feet, was leased by Hivemind Capital, represented by Matt Zhang. The landlord, Columbia Property Trust, was represented by Peter Shimkin, David Falk, Jonathan Fanuzzi, and Jordyn Comras of Newmark. Hivemind Capital's representatives in the deal were Jason Kroeger and Patrick Dugan of Cushman & Wakefield. The asking rent for the space was $99 per square foot.
Summary of transaction details
- Property Type: Office
- Transaction Amount: N/A
- Address: 315 Park Avenue South, Flatiron
- Tenant: Hivemind Capital - Matt Zhang
- Landlord: Columbia Property Trust
- Landlord's Rep: Peter Shimkin, David Falk, Jonathan Fanuzzi, & Jordyn Comras - Newmark
- Tenant's Rep: Jason Kroeger & Patrick Dugan - Cushman & Wakefield
- Asking Rent: $99/ft. ~ SF: 7,137
- Lease Terms: 3-year term
The lease transaction for 315 Park Avenue South was successfully facilitated by the respective representatives from Newmark and Cushman & Wakefield. This deal highlights the demand for office space in the Flatiron district and the role of experienced brokers in securing favorable lease terms for their clients.
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