Ahead Expands Presence With Office Lease At 500 Fifth Ave In Manhattan
500 5th Avenue
$95
$95/SF
Building Size
16,486 SF
Asset Type
Office
Closing
Apr 24, 2024
AI
The lease transaction involves a 16,486 square foot office space at 500 Fifth Ave., Manhattan, with an asking rent of $95 per square foot. The landlord, Moises Cosio, leased the office space to IT company Ahead. Cushman & Wakefield represented the landlord, while CBRE represented the tenant in the deal.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 500 5th Avenue
- Market: Manhattan
- Landlord: Moises Cosio
- Tenant: Ahead
- Landlord's Representative: Harry Blair, Lauren Hale & Michelle Mean - Cushman & Wakefield
- Tenant's Representative: Harly Stevens & Michael Poch - CBRE
- Asking Rent: $95/ft
- SF: 16,486
The IT company Ahead secured the lease for the office space at 500 Fifth Ave., further expanding its presence on Fifth Avenue. The deal, brokered by CBRE and Cushman & Wakefield, signifies a strategic move for both the landlord, Moises Cosio, and the tenant, positioning them for continued growth and success in the Manhattan market.
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
166978.95%
Cash-on-Cash
-47723.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93