Bridge Medical Expands Lease At 389 5th Avenue In Murray Hill For 10 Years
389 5th Avenue
$46
$46/SF
Building Size
6,832 SF
Asset Type
Office
Closing
May 1, 2025
About this deal
AI
The property involved in this transaction is an office asset located at 389 5th Avenue in the Murray Hill market. The total square footage of the asset is 6,832, and it was leased at an asking rent of $46 per square foot.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not disclosed
- Address: 389 5th Avenue
- Market: Murray Hill
- Landlord: Koeppel Rosen
- Tenant: Bridge Medical
- Landlord's Representative: Max Koeppell - Koeppel Rosen
- Tenant's Representative: Steven Gurton - R New York
This lease agreement reflects Bridge Medical's expansion, as they increased their footprint by 3,027 square feet, thus enhancing their total leased space at the location. The lease has a duration of 10 years, showcasing the tenant's long-term commitment to the space.
On the Map
$46
$46/SF
Office
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Players
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Boundary boundary · Office · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
344847.83%
Cash-on-Cash
-98558.57%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93