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5 Union Square W, New York,...

Peter Gross Of Avison Young Facilitates Office Lease At 5 Union Square W, New York
LEASEDOffice

Peter Gross Of Avison Young Facilitates Office Lease At 5 Union Square W, New York

5 Union Square W, New York, NY, 10003

Building Size

20,500 SF

Asset Type

Office

Closing

Nov 8, 2022

AI

The property asset is located at 5 Union Square W, New York, NY, 10003, within the New York market. This lease comprises a total square footage of 20,500 and is classified as an office asset.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not specified
  • Address: 5 Union Square W, New York, NY, 10003
  • Square Feet: 20,500
  • Tenant's Representative: Peter Gross-Avison Young
  • Landlord: GFP Real Estate
  • Landlord's Representative: Matthew Colavita

This transaction involved key representatives including Peter Gross from Avison Young, who represented the tenant, and Matthew Colavita, representing the landlord, GFP Real Estate. Their roles were critical in facilitating the lease agreement for the office space in question.

Players

Matthew Colavita

Broker

2 deals

Broker
GFP Real Estate
GFP Real EstateLandlord

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