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521 5th Ave, New York, NY, ...

KGS-Alpha Capital Leases 22000 Square Feet At 521 5th Ave New York From SL Green Realty
LEASEDOffice

KGS-Alpha Capital Leases 22000 Square Feet At 521 5th Ave New York From SL Green Realty

521 5th Ave, New York, NY, 10175

Building Size

22,000 SF

Asset Type

Office

Closing

Oct 11, 2016

AI

The property involved in this lease transaction is located at 521 5th Ave, New York, NY, spanning 22,000 square feet. This asset is part of a larger 490,000 square foot building owned by SL Green Realty, situated in the New York market.

Summary of transaction details:

KGS-Alpha Capital executed a five-year lease for the third floor of the property. The transaction involved multiple representatives from both parties, including Savills' Christopher Foerch and Daniel Horowitz representing KGS-Alpha Capital, while SL Green Realty was represented by Matthias Li from Cushman & Wakefield.

Players

Matthias Li

Cushman & Wakefield

Broker

$10.7M

vol

7 deals

Broker
SL Green
SL GreenLandlord

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