WorkStride Leases 12000 Square Feet At 350 5th Ave New York With Empire State Realty Trust
350 5th Ave, New York, NY, 10118
Building Size
12,000 SF
Asset Type
Office
Closing
Jul 18, 2019
About this deal
AI
The property asset involved in this transaction is located at 350 5th Ave, New York, NY, 10118. The market for this property is New York. The property encompasses a total square footage of 12,000 square feet.
Summary of transation details:
- Property Type: Lease
- Transaction Amount: Not Disclosed
- Tenant: WorkStride
- Landlord: Empire State Realty Trust
- Tenant's Representative: Kirill Azovtsev-Savills
- Landlord's Representatives: Kip Orban-JLL, Jonathan Fanuzzi-Newmark
This lease transaction highlights the involvement of key representatives for both the tenant and landlord. Kirill Azovtsev from Savills represented WorkStride in the deal, while Kip Orban from JLL and Jonathan Fanuzzi from Newmark represented Empire State Realty Trust.
On the Map
Office
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Players
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