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5 Penn PLZ, New York, NY, 1...

Savills Brokers Lease At 5 Penn Plaza New York With CBRE For 28641 Square Feet At $65/SF
LEASEDOffice

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

David Goldstein

Savills

Broker

9 deals

Broker
CBRE
CBRELandlord

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