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

Douglass Winthrop Advisors Leases Office Space At 521 5th Ave, New York
LEASEDOffice

Douglass Winthrop Advisors Leases Office Space At 521 5th Ave, New York

521 5th Ave, New York, NY, 10175

Building Size

12,400 SF

Asset Type

Office

Closing

Jun 26, 2018

AI

The office property located at 521 5th Ave, New York, NY, 10175, in the New York market, was leased on June 26, 2018. The Landlord, SL Green Realty Corp., leased 12,400 square feet to the Tenant, Douglass Winthrop Advisors. The Tenant's Representative in the deal was Patrick Heeg from JLL, while the Landlord's Representatives were Natasha Brown from Nuveen Real Estate and Tara Stacom from Cushman & Wakefield.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not Applicable
  • Square Feet: 12,400
  • Address: 521 5th Ave, New York, NY, 10175
  • Market: New York
  • Tenant: Douglass Winthrop Advisors
  • Landlord: SL Green Realty Corp.
  • Tenant's Rep: Patrick Heeg (JLL)
  • Landlord's Reps: Natasha Brown (Nuveen Real Estate), Tara Stacom (Cushman & Wakefield)

Patrick Heeg from JLL represented the Tenant, Douglass Winthrop Advisors, in this lease transaction, while Natasha Brown from Nuveen Real Estate and Tara Stacom from Cushman & Wakefield represented the Landlord, SL Green Realty Corp. The lease agreement for the 12,400 square feet office space at 521 5th Ave marks a significant deal in the New York market.

Players

Tara Stacom

Cushman & Wakefield

Broker

17 deals

Broker
Nuveen
NuveenLender
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