Situation Group Renews 17,058 Square Foot Lease At 469 Seventh Avenue In Midtown South
469 Seventh Avenue
Building Size
17,058 SF
Asset Type
Office
Closing
May 7, 2025
About this deal
AI
The office asset located at 469 Seventh Avenue in Midtown South encompasses 17,058 square feet of space. The property is utilized for business operations and is situated within a prime market area, which enhances its appeal for tenants seeking commercial space.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 469 Seventh Avenue
- Market: Midtown South
- Landlord: Eric Meyer - Meyer Equities
- Tenant: Damian Bazadona - Situation Group
- Lease Duration: Nine years
- Lease Start Date: 2013
Eric Meyer represents Meyer Equities as the landlord in this leasing transaction, while Damian Bazadona represents Situation Group as the tenant. Situation Group has been in operation at this location since the inception of their lease in 2013.
On the Map
Office
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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