Regus Leases Office Space At 5 Penn PLZ, New York For $68/SF
5 Penn PLZ, New York, NY, 10001
$68
$68/SF
Building Size
60,000 SF
Asset Type
Office
Closing
Oct 16, 2017
About this deal
AI
Located at 5 Penn PLZ, New York, NY, 10001, this office property in New York spans 60,000 square feet. The lease was finalized on October 16, 2017, with Regus as the tenant, represented by Patrick Heeg from JLL, and Haymes Investment Company as the landlord. The agreed rent is $68 per square foot.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Tenant: Regus
- Tenant's Rep: Patrick Heeg(JLL)
- Landlord: Haymes Investment Company
- Rent/SF: $68
- Square Feet: 60,000
Patrick Heeg from JLL facilitated the deal as the tenant's representative, successfully securing the lease agreement for the 60,000 square feet office space on behalf of Regus. Haymes Investment Company, the landlord, engaged in the transaction, finalizing the lease with Regus at a rate of $68 per square foot.
On the Map
$68
$68/SF
Office
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
233279.41%
Cash-on-Cash
-66671.97%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93