LinkedIn Leases Office Space At 350 5th Ave, NYC From Empire State Realty Trust
350 5th Ave, New York, NY, 10118
$72
$72/SF
Building Size
30,165 SF
Asset Type
Office
Closing
Jul 5, 2018
AI
The office property located at 350 5th Ave, New York, NY, 10118, in the bustling market of New York, spans a total of 30,165 square feet. The lease agreement was finalized on 07/05/2018, with LinkedIn securing the space at a rate of $72 per square foot. The property is owned by Empire State Realty Trust.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not Applicable
- Tenant: LinkedIn
- Tenant's Representative: Lauren Crowley Corrinet(CBRE), Sacha Zarba(CBRE)
- Landlord: Empire State Realty Trust
- Rent/SF: $72
- Square Feet: 30,165
The deal was facilitated with Lauren Crowley Corrinet and Sacha Zarba from CBRE representing LinkedIn in the lease agreement with Empire State Realty Trust. The collaboration between the tenant's representatives and the landlord highlights a successful negotiation process for the office space.
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
220319.44%
Cash-on-Cash
-62967.97%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93