facebook
TradedTraded
    Home
    Search
    Closings
    Listings
    On Market
    Off Market
    Add a listing
    Vaults
    shh
    Rankings
    News
    Data
    Socials
    More


Messages

Go Pro
+ Submit+ Submit a Deal
Home

/

Deals

/

New York

/

Office

/

Lease

/

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

GFP Real Estate Leases Office Space To Four Tenants At 505 Eighth Ave
LEASEDOffice

GFP Real Estate Leases Office Space To Four Tenants At 505 Eighth Ave

505 8th Ave, New York, NY, 10018

Building Size

2,300 SF

Asset Type

Office

Closing

Aug 12, 2022

AI

Located at 505 8th Ave, New York, NY, 10018, the office property spans 12,450 square feet in Midtown Manhattan. It witnessed four lease signings, with a notable renewal by Greystone & Co. for 7,400 square feet. Construction Technology Laboratories also secured a 5-year lease for 2,300 square feet.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not specified
  • Tenant's Rep: Stephen Sunderland()
  • Landlord: GFP Real Estate
  • Square Feet: 2300

All leases were orchestrated with careful representation. Senior Managing Director Allen Gurevich acted on behalf of GFP Real Estate in the entirety of the transactions. Another key figure in the deals was Senior Managing Director Donna Vogel, representing RentQuest in securing a three-year lease for 900 square feet on the 10th floor. These individuals played pivotal roles in the successful leasing activities at 505 8th Ave.

Players

Stephen Sunderland

Broker

$2.5M

vol

2 deals

Broker
GFP Real Estate
GFP Real EstateLandlord

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