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349 5th Avenue

Slice Leases Office Space At 349 5th Avenue In New York City With Landlord Zar Property NY And Tenant's Rep Colliers International
LEASEDOffice

Slice Leases Office Space At 349 5th Avenue In New York City With Landlord Zar Property NY And Tenant's Rep Colliers International

349 5th Avenue

$52

$52/SF

Building Size

8,000 SF

Asset Type

Office

Closing

Mar 1, 2023

AI

The office space located at 349 5th Avenue in New York City has been leased. The tenant, Slice, will be occupying the premises. The lease deal was facilitated by the landlord's representative, David Zar and Julian Zar from Zar Property NY, and the tenant's representative, Michael Joseph, Jessica Verdi, Aidan Campbell, and Michael Cohen from Colliers International. The asking rent for the 8,000 square feet space was $52 per square foot.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not specified
  • Address: 349 5th Avenue, New York City
  • Market: New York City
  • Landlord: Zar Property NY
  • Tenant: Slice
  • Landlord's Representative(s): David Zar and Julian Zar from Zar Property NY
  • Tenant's Representative(s): Michael Joseph, Jessica Verdi, Aidan Campbell, and Michael Cohen from Colliers International
  • Asking Rent: $52 per square foot
  • Square Footage: 8,000

The lease transaction at 349 5th Avenue involved the parties mentioned above. Both the landlord and the tenant were represented by their respective agents. The deal demonstrates the demand for office spaces in New York City's market.

Players

Michael Joseph

Colliers

Broker

16 deals

Broker
Zar Property NY
Zar Property NYLandlord

Market 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

305057.69%

Cash-on-Cash

-87186.42%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93