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500 5th Avenue

Ahead Expands Presence With Office Lease At 500 Fifth Ave In Manhattan
LEASEDOffice

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:

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

Harry Blair

Cushman & Wakefield

Broker

15 deals

Broker

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