ATCO Properties & Management Leases 8732 SF At 373-381 Park Avenue South For $55/SF
373 Park Avenue & 381 Park Avenue South
$55
$55/SF
Building Size
17,464 SF
Asset Type
Office
Closing
May 6, 2016
AI
The property involved in this transaction is located at 373 - 381 Park Avenue South, New York. The lease agreement is for a total square footage of 8,732 and is priced at $55 per square foot.
Summary of transaction details:
- Property Type: Lease
- Transaction Amount: Not specified
- Address: 373 - 381 Park Avenue South, New York
- Rent/SF: $55
- Square Feet: 8,732
- Landlord: ATCO Properties & Management
- Tenant's Representatives: Kirill Azovtsev - Savills, Davie Berke - JLL, James (Jim) Wenk - Savills
- Broker: John Cinosky - ABS Partners Real Estate
The transaction features notable involvement from various representatives in the leasing process. Kirill Azovtsev, Davie Berke, and James (Jim) Wenk played key roles as tenant's representatives, while John Cinosky acted on behalf of ABS Partners Real Estate as the broker for the deal.
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
288418.18%
Cash-on-Cash
-82430.80%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93