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437 5th Ave, New York, NY, ...

Little Italy Leases 1046 SF Office Space At 437 5th Ave, New York
LEASEDOffice

Little Italy Leases 1046 SF Office Space At 437 5th Ave, New York

437 5th Ave, New York, NY, 10016

Building Size

1,046 SF

Asset Type

Office

Closing

Aug 22, 2022

AI

The property asset involved in this transaction is an office space located at 437 5th Ave, New York, NY, 10016. The total square footage of the asset is 1,046 square feet, situated within the New York market.

Summary of transaction details:

This transaction highlights the representatives involved, specifically Michael Cohen and Ross Berkowitz, who represented Little Italy, while Rick Brickell acted on behalf of the landlord, Joseph P. Day Realty Corp. The collaboration of these professionals facilitated the leasing agreement for the office space.

Players

Michael Cohen

Newmark

Broker

13 deals

Broker
RC
Realty Corp.Landlord

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