Savills Brokers Lease At 5 Penn Plaza New York With CBRE For 28641 Square Feet At $65/SF
5 Penn PLZ, New York, NY, 10001
$65
$65/SF
Building Size
28,641 SF
Asset Type
Office
Closing
Nov 19, 2023
AI
This lease transaction involves a property located at 5 Penn Plaza, New York, NY, 10001. The market for this transaction is New York, and the property features a rental rate of $65 per square foot. The total area of the space leased is 28,641 square feet.
Summary of transaction details:
- Property Type: Lease
- Transaction Amount: Not specified
- Address: 5 Penn Plaza, New York, NY, 10001
- Market: New York
- Tenant's Representative: David Goldstein - Savills
- Brokers: Gabe Marans - Savills Studley
- Landlord: CBRE
- Rent/SF: $65
- Square Feet: 28,641
Key individuals involved in the deal include David Goldstein of Savills, representing the tenant, and Gabe Marans from Savills Studley as the broker. The landlord, CBRE, is the entity overseeing the leasing of the property.
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
244046.15%
Cash-on-Cash
-69749.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93