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350 5th Ave, New York, NY, ...

WorkStride Leases 12000 Square Feet At 350 5th Ave New York With Empire State Realty Trust
LEASEDOffice

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

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:

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.

Players

Kirill Azovtsev

Savills

Broker

$10.3M

vol

28 deals

Broker
Empire State Realty Trust
Empire State Realty TrustLandlord

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