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.
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