Expedia Leases 9000 SF Office Space On 5th Ave, New York To Empire State Realty Trust
350 5th Ave, New York, NY, 10118
Building Size
9,000 SF
Asset Type
Office
Closing
Jan 20, 2016
About this deal
AI
The property involved in this transaction is an office asset located at 350 5th Ave, New York, NY, 10118. The leased space encompasses 9,000 square feet and is situated in the New York market.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 350 5th Ave, New York, NY, 10118
- Square Feet: 9,000
- Tenant: Expedia
- Landlord: Empire State Realty Trust
- Tenant's Representative: Robert Hill-Newmark
- Lease Date: 01/20/2016
This transaction involves key individuals and companies, with Robert Hill representing the tenant, Expedia, in the lease agreement with the landlord, Empire State Realty Trust. The transaction closes within the recognized New York market, reflecting the dynamics of office leasing in the area.
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