Mish.Aesthetics Leases Office Space At 389 Fifth Avenue In Midtown Manhattan
389 Fifth Avenue, Manhattan, New York, NY, USA
Building Size
1,225 SF
Asset Type
Office
Closing
Jan 10, 2021
About this deal
AI
An office space located at 389 Fifth Avenue in Midtown has been leased. The property is owned by the Rosen Group, with Jonathan Rosen as the landlord. The tenant, Mish.Aesthetics, has secured the lease through the representation of brokers Jeff Zheng from Elms Equities and Chris Okada. Ken Lerner from OkadaCo also played a role in the deal. The lease was signed on January 11, 2021. The office space spans a total of 1,225 square feet, with an asking rent of $30 per square foot.
Summary of Transaction Details
- Property Type: Office
- Transaction Amount: Leased
- Address: 389 Fifth Avenue
- Market: Midtown
This deal is significant because it offers an office space on Fifth Avenue for under $30 per square foot, making it an attractive opportunity. Congratulations to all parties involved in this transaction. It's important to recognize that every deal counts, and this lease on Fifth Avenue showcases confidence in the New York City market.
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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