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

NFP Corp. Leases 17,500 Sqft Office Space At 521 5th Ave, New York
LEASEDOffice

NFP Corp. Leases 17,500 Sqft Office Space At 521 5th Ave, New York

521 5th Ave, New York, NY, 10175

Building Size

17,500 SF

Asset Type

Office

Closing

Jun 26, 2018

AI

The property asset involved in the transaction is an office space located at 521 5th Ave, New York, NY, 10175. It comprises a total area of 17,500 square feet and is situated within the New York market. The landlord for this transaction is SL Green Realty Corp.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not disclosed
  • Address: 521 5th Ave, New York, NY, 10175
  • Square Feet: 17,500
  • Market: New York
  • Tenant: NFP Corp.
  • Landlord: SL Green Realty Corp.
  • Tenant's Representative: Michael Monahan - CBRE

The key individuals involved in the transaction include the tenant NFP Corp., represented by Michael Monahan from CBRE. The landlord SL Green Realty Corp. is responsible for leasing the office space to NFP Corp., marking an important activity in the New York office rental market.

Players

Michael Monahan

CBRE

Broker

$260.6M

vol

8 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