Pelli Clarke Pelli Architects Leases Office Space At 322 8th Ave, New York
322 8th Ave, New York, NY, 10001
$55
$55/SF
Building Size
11,000 SF
Asset Type
Office
Closing
Jun 5, 2017
AI
The property at 322 8th Ave, New York, NY, 10001 is an office space with a total square footage of 11,000 square feet. The lease was executed on 06/05/2017 with a rental rate of $55 per square foot. The tenant, Pelli Clarke Pelli architects, was represented by Michael McKenna from Cresa, while the landlord in this transaction was Newmark Holdings.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Tenant: Pelli Clarke Pelli architects
- Tenant's Rep: Michael McKenna (Cresa)
- Landlord: Newmark Holdings
- Rent/SF: $55
- Square Feet: 11,000
In this transaction, Newmark Holdings acted as the landlord for the office space leased to Pelli Clarke Pelli architects, who was represented by Michael McKenna from Cresa. The deal for this property at 322 8th Ave, New York, NY, 10001 in New York involved a leasing arrangement with a square footage of 11,000 and a rental rate of $55 per square foot.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
288418.18%
Cash-on-Cash
-82430.80%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93