Newmark Holdings Leases Office Space To Greystone Management Solutions On 8th Ave, New York
505 8th Ave, New York, NY, 10018
Building Size
7,400 SF
Asset Type
Office
Closing
Jun 21, 2017
AI
The property involved in this lease transaction is an office asset located at 505 8th Ave, New York, NY, 10018. The leased space encompasses a total area of 7,400 square feet, positioned within the New York market. The landlord of the property is Newmark Holdings.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not provided
- Address: 505 8th Ave, New York, NY, 10018
- Market: New York
- Square Feet: 7400
- Landlord: Newmark Holdings
- Tenant: Greystone Management Solutions
- Tenant's Representatives: Matthew Leon-Newmark, Matthew Leonelli
This transaction highlights the engagement of key representatives, specifically Matthew Leon-Newmark and Matthew Leonelli, who represented the tenant, Greystone Management Solutions, in the lease deal with Newmark Holdings as landlords.
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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93