Tenant Secures 900 Square Feet Lease At 505 8th Ave New York From GFP Real Estate
505 8th Ave, New York, NY, 10018
Building Size
900 SF
Asset Type
Office
Closing
Aug 12, 2022
AI
The property involved in this transaction is located at 505 8th Ave, New York, NY 10018, situated in the New York market. It consists of multiple leases totaling 12,450 square feet of office space, with one of the tenants, RentQuest, occupying 900 square feet on the 10th floor.
Summary of transaction details:
- Property Type: Lease
- Transaction Amount: Not specified
- Address: 505 8th Ave, New York, NY, 10018
- Market: New York
- Landlord: GFP Real Estate
- Tenant's Representative: Donna Vogel
- Square Feet: 900
The deal involved GFP Real Estate, represented by Senior Managing Director Allen Gurevich, who oversaw the leasing transactions. The other tenants included Greystone & Co., which renewed its lease, and Construction Technology Laboratories, with Senior Managing Director Stephen Sunderland representing them. Additionally, Richmond Home Need Services renewed its lease under direct agreement with the landlord.
Players
New York 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