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320 5th Ave, New York, NY, ...

Westbridge Realty Leases Office Space At 320 5th Ave, New York
LEASEDOffice

Westbridge Realty Leases Office Space At 320 5th Ave, New York

320 5th Ave, New York, NY, 10001

Building Size

1,900 SF

Asset Type

Office

Closing

Nov 11, 2020

AI

The office building located at 320 5th Ave in New York, NY, 10001, is the focus of a recent leasing transaction. The property spans approximately 1,900 square feet and is managed by Brause Realty. The market value of this asset lies in its convenient location between 32nd and 33rd Streets in New York.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not disclosed
  • Tenant: Westbridge Realty
  • Landlord: Brause Realty
  • Square Feet: 1900

Representing Brause Realty in the leasing deal were Jonata Dayan and Brett Weiss of HSP Real Estate Group. On the tenant side, Westbridge Realty was assisted by Liam O'Neil and Todd Hershman from Newmark. The move from Westbridge Realty's previous location on 152 Madison Avenue to these newly leased offices signifies a strategic relocation decision by the firm.

Players

Todd Hershman

Newmark

Broker

$37.3M

vol

6 deals

Broker
Brause Realty
Brause RealtyLandlord

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