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315 Park Avenue South, New ...

Hivemind Capital Acquires Office Space At 315 Park Avenue South In Flatiron For 3-Year Lease
LEASEDOffice

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

Patrick Dugan

Cushman & Wakefield

Broker

$180M

vol

9 deals

Broker
David Falk
Verified Badge

David Falk

Newmark

Broker

61 deals

Broker
Columbia Property Trust
Columbia Property TrustLandlord

Matt Zhang

Tenant

1 deal

Tenant

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