Feil Organization Leases Office Space To Certain & Zilberg At 488 Madison Ave
488 Madison Ave, New York, NY, 10022
Building Size
8,268 SF
Asset Type
Office
Closing
Nov 7, 2019
AI
The property asset involved in this transaction is an office located at 488 Madison Ave, New York, NY, 10022. The total square footage of the asset is 8,268. The market for this office asset is New York.
Summary of transation details:
- Property Type: Office
- Transaction Amount: Not specified
- Square Feet: 8,268
- Address: 488 Madison Ave, New York, NY, 10022
- Market: New York
- Tenant: Certain & Zilberg
- Tenant's Representative: Michael (Mike) Nazarian
- Landlord: Feil Organization
The deal involves key individuals and companies, with Michael (Mike) Nazarian representing the tenant, Certain & Zilberg, in the lease transaction with the landlord, Feil Organization.
Players
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