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322 8th Ave, New York, NY, ...

Pelli Clarke Pelli Architects Leases Office Space At 322 8th Ave, New York
LEASEDOffice

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

Michael McKenna

Cresa

Broker

4 deals

Broker
NH
Newmark HoldingsLandlord

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

288418.18%

Cash-on-Cash

-82430.80%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93