Reliant Solutions Leases 6000 Square Feet At 450 Fashion Ave New York From Kaufman Organization
450 Fashion Ave, New York, NY, 10123
Building Size
6,000 SF
Asset Type
Office
Closing
Feb 23, 2016
About this deal
AI
The property asset involved in this transaction is located at 450 Fashion Ave, New York, NY, 10123. It encompasses a total of 6,000 square feet and operates within the New York market. The asking rent for the space was $50 per square foot.
Summary of transaction details:
- Property Type: Lease
- Transaction Amount: $300,000
- Address: 450 Fashion Ave, New York, NY, 10123
- Market: New York
- Landlord: Kaufman Organization
- Landlord's Representative: Barbara Raskob (Kaufman Organization)
- Tenant: Reliant Solutions
- Square Feet: 6,000
This lease transaction involved Reliant Solutions, which is the tenant in this agreement. It is noted that both Howe-Lewis and Reliant Solutions have signed leases for a total of 6,000 square feet at the Kaufman Organization's property. Reliant Solutions did not engage a broker for this lease transaction.
Players
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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