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401 9th Ave, New York, NY, ...

NHL Leases 160000 Square Feet At 401 9th Ave New York From Landlord Brookfield Represented By Christopher Corrinet CBRE
LEASEDOffice

NHL Leases 160000 Square Feet At 401 9th Ave New York From Landlord Brookfield Represented By Christopher Corrinet CBRE

401 9th Ave, New York, NY, 10001

Building Size

160,000 SF

Asset Type

Office

Closing

Dec 13, 2016

AI

The transaction involves a lease at 401 9th Ave, New York, NY, 10001, spanning a total of 160,000 square feet. The property is located in the New York market and includes multiple floors leased by the NHL, along with an additional 15,000 square feet designated for a retail NHL store within the complex.

Summary of transaction details:

  • Property Type: Lease
  • Transaction Amount: Not specified
  • Square Feet: 160,000
  • Address: 401 9th Ave, New York, NY, 10001
  • Tenant: NHL
  • Landlord: Brookfield
  • Tenant's Representative: Christopher Corrinet-CBRE
  • Landlord's Representatives: Jerry Larkin, Duncan McCuaig, Bruce Mosler, Robert Lowe, Ethan Silverstein

The NHL was represented in the transaction by CBRE’s Michael Laginestra and Michael Geoghegan. Brookfield managed the deal in-house while also collaborating with Cushman & Wakefield representatives for additional expertise in the leasing process.

Players

Christopher Corrinet

CBRE

Broker

11 deals

Broker
Brookfield Properties
Brookfield PropertiesBrokerage

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