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505 8th Ave, New York, NY, ...

Newmark Holdings Leases Office Space To Greystone Management Solutions On 8th Ave, New York
LEASEDOffice

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

Matthew Leonelli

Broker

$11.7M

vol

12 deals

Broker
NH
Newmark HoldingsLandlord

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