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519 8th Ave, New York, NY 1...

@MarthaStewart Leases Office In Midtown Manhattan From Kaufman Organization With Brokers Sami Akleh & Christina Combias
LEASEDOffice

@MarthaStewart Leases Office In Midtown Manhattan From Kaufman Organization With Brokers Sami Akleh & Christina Combias

519 8th Ave, New York, NY 10018, USA

Building Size

75,830 SF

Asset Type

Office

Closing

Nov 4, 2019

AI

Located in Midtown, the property at 519 8th Avenue recently closed a transaction. The office space, spanning 7,583 square feet, was rented out by renowned lifestyle expert, Martha Stewart. The property was leased from the landlord, Kaufman Organization, with VORO Real Estate's Sami Akleh and Christina Combias representing both the tenant and landlord in the deal.

Summary of transaction details

The involvement of Martha Stewart adds prestige to the property lease, attracting attention to the highly desirable location in Midtown. VORO Real Estate's Sami Akleh and Christina Combias played a crucial role in facilitating the transaction between the tenant and landlord, ensuring a mutually beneficial agreement.

Players

Christina Combias

Voro Real Estate

Broker

$4.3M

vol

9 deals

Broker
Kaufman Organization
Kaufman OrganizationBrokerage
Kaufman Organization
Kaufman OrganizationLandlord

Martha Stewart

Tenant

$39.4M

vol

3 deals

Tenant

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