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

Regus Leases Office Space At 5 Penn PLZ, New York For $68/SF
LEASEDOffice

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

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.

Players

Patrick Heeg

Transwestern

Broker

6 deals

Broker
HC
Haymes Investment CompanyLandlord
R
RegusTenant

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

233279.41%

Cash-on-Cash

-66671.97%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93