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GH Furnishings Leases Office Space At 390 5th Avenue In Midtown Manhattan

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LEASED

New York

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Office15,650 SF
Leased 07/05/2020
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LEASED

GH Furnishings Leases Office Space At 390 5th Avenue In Midtown Manhattan

390 5th Avenue, Manhattan, New York, NY, USA

See Similar Deals
Office15,650 SF
Leased 07/05/2020
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Summary

NEW YORK
Asset Type:Office
Total Square Footage:15,650 SF
Transaction Type:Lease

390 5th Avenue, located in Midtown, has recently completed a lease for its 3rd floor office space. The property, a spacious office asset, spans approximately 15,650 square feet. The deal was finalized on 07/05/2021.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: N/A
  • Market: Midtown
  • Tenant: GH Furnishings
  • Landlord: Hilson Management Corp - Jason Schwalbe
  • Tenant's Representative: Albert Sultan - assin_Sabbagh_Realty
  • Landlord's Representative: Jeff Buslik - Adams & Co
  • Asking Rent: $47/ft.

The tenant, GH Furnishings, has secured the lease for the space. They were represented by Albert Sultan of assin_Sabbagh_Realty. On the other side of the deal, the landlord's representative was Jeff Buslik from Adams & Co. The lease was finalized at an asking rent of $47 per square foot.

Notably, the landlord, Hilson Management Corp, expressed their satisfaction with the deal, stating that 390 5th Avenue is now the go-to destination for all home furnishing tenants.

Players

Albert Sultan
17 deals$766M volume
BROKER


LANDLORD

Details

LEASED
IMAGE: Albert Sultan & Jeff Buslik DATE: 07/05/2021 ADDRESS: 390 5th Avenue (3rd Floor) MARKET: Midtown ASSET TYPE: Office TENANT: GH Furnishings 🪑 🛌 🛋 LANDLORD: Hilson Management Corp - Jason Schwalbe TENANT'S REP: Albert Sultan (@Sultan5) - @Kassin_Sabbagh_Realty LANDLORD'S REP: Jeff Buslik (@JBuslik) - Adams & Co ASKING RENT: $47/ft. ~ SF: 15,650 NOTE FROM LANDLORD: “390 5th Avenue is now the go to destination for all Home Furnishing tenants”

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Deal Type
Effective Rent (Annual)

$897,048.56

Total Lease Value

$8,970,485.56

Net Landlord Cash Flow$897,048.56