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:
- Property Type: Lease
- Transaction Amount: Not specified
- Address: 521 5th Ave, New York, NY, 10175
- Square Feet: 22,000
- Tenant: KGS-Alpha Capital
- Landlord: SL Green Realty
- Tenant's Representatives: Christopher Foerch (Savills), Daniel Horowitz (Savills)
- Landlord's Representative: Matthias Li (Cushman & Wakefield)
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
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