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
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