499 7th Ave
499 7th Ave, New York, NY, 10018
Building Size
2,800 SF
Asset Type
Office
Closing
Dec 11, 2020
AI
The property involved in the transaction is located at 499 7th Ave, New York, NY, 10018. This asset encompasses a total of 2800 square feet and is situated in the New York market.
Summary of transaction details:
- Property Type: Lease
- Transaction Amount: Not specified
- Tenant: True Religion
- Landlord: Block Building L.L.C
- Tenant's Representatives: Justin Myers - Lee & Associates, Dennis Someck - Lee & Associates
- Landlord's Representatives: Brian Neugeboren, Elliot Zelinger
The representatives for the tenant, Justin Myers and Dennis Someck, are both affiliated with Lee & Associates, while the landlord's side is represented by Brian Neugeboren and Elliot Zelinger. This collaboration reflects the structure of the professionals engaged in facilitating the lease agreement.
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