Keeco Leases 26170 Square Feet At 386 5th Ave New York With Hilson Management Corp As Landlord
386 5th Ave, New York, NY, 10018
Building Size
26,170 SF
Asset Type
Office
Closing
Nov 20, 2023
About this deal
AI
The property involved in this transaction is a 26,170-square-foot office space located at 386 5th Ave, New York, NY, 10018. It is situated in the New York market and is leased at an asking rent of approximately $50 per square foot.
Summary of transaction details:
- Property Type: Office Lease
- Transaction Amount: Not disclosed
- Tenant: Keeco
- Landlord: Hilson Management Corp
- Tenant's Representative: Evan Margolin-JLL
- Landlord's Representatives: Jeffrey Buslik-Adams & Co., Jay Dispalto-Adams & Co., Jeff Buslik
The tenant, Keeco, is a home textile supplier relocating from its previous location at 295 Park Avenue. The lease negotiations involved Adams & Co., which represented Hilson Management Corp., while Evan Margolin from JLL represented Keeco. This transaction took place during the first quarter of 2021.
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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