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

The Design Gym Leases Office Space In New York To Brause Realty
LEASEDOffice

The Design Gym Leases Office Space In New York To Brause Realty

320 5th Ave, New York, NY, 10001

Building Size

2,901 SF

Asset Type

Office

Closing

Mar 5, 2021

AI

The property at 320 5th Ave, New York, NY, 10001, is an office space comprising 2,901 square feet. The lease for this property was finalized on 03/05/2021 in the New York market. The tenant, The Design Gym, was represented by Matt Hopkins from Vicus Partners, while the landlord in this transaction was Brause Realty.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not Applicable
  • Tenant: The Design Gym
  • Square Feet: 2,901
  • Tenant's Rep: Matt Hopkins (Vicus Partners)
  • Landlord: Brause Realty

The individuals and companies involved in this lease deal are Matt Hopkins from Vicus Partners who represented the tenant, The Design Gym, and Brause Realty, the landlord. The location of this office space, situated in New York, makes it a strategic choice for The Design Gym as they expand their operations.

Players

Matt Hopkins

Acona Real Estate

Broker

3 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