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389 Fifth Avenue, Manhattan...

Mish.Aesthetics Leases Office Space At 389 Fifth Avenue In Midtown Manhattan
LEASEDOffice

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

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.

Players

Christopher Okada

Okada & Company

Broker

$352.8M

vol

85 deals

Broker
RG
Rosen GroupLandlord

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