facebook

traded

+ Submit
Home

/

Deals

/

New York

/

Office

/

Lease

/

505 8th Ave, Brooklyn, NY, ...

In Record Time Leases 5202 Square Feet From Newmark Holdings At 505 8th Ave Brooklyn
LEASEDOffice

In Record Time Leases 5202 Square Feet From Newmark Holdings At 505 8th Ave Brooklyn

505 8th Ave, Brooklyn, NY, 11215

Building Size

5,202 SF

Asset Type

Office

Closing

Nov 1, 2016

AI

505 8th Ave, located in Brooklyn, NY 11215, is a 25-story building where In Record Time signed a lease for a total of 5,202 square feet. The property falls within the Brooklyn market and is owned by Newmark Holdings.

Summary of transaction details:

  • Property Type: Lease
  • Transaction Amount: Not specified
  • Address: 505 8th Ave, Brooklyn, NY 11215
  • Market: Brooklyn
  • Tenant: In Record Time
  • Landlord: Newmark Holdings
  • Tenant's Representatives: Chris Mongeluzo (Newmark Knight Frank), Corey Borg (Newmark)
  • Landlord's Representative: Allen Gurevich (Newmark)
  • Square Feet: 5202

The transaction involved a marketing, branding, and product design company, In Record Time. The lease was facilitated with representation by Newmark Knight Frank's Chris Mongeluzo and Corey Borg, while the landlord, Newmark Holdings, was represented in-house by Allen Gurevich.

Players

Corey Borg

Newmark

Broker

10 deals

Broker
NH
Newmark HoldingsLandlord

Brooklyn Office Market Snapshot

Boundary boundary · Office · Lease transactions

Loading comparables…

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