Reflex Resources Leases Office Space At 525 Seventh Avenue In Times Square South
525 7th Avenue, New York City, New York 10018, United States
Building Size
16,542 SF
Asset Type
Office
Closing
May 11, 2022
AI
The office property located at 525 Seventh Avenue in Times Square South has recently been leased. The lease transaction took place on 05/12/2022.
Summary of transaction details:
- Property Type: Office
- Address: 525 Seventh Avenue
- Market: Times Square South
- Landlord: Olmstead Properties
- Tenant: Reflex Resources
- Brokers: Daniel Lolai - LSL Advisors, Sam Friedfeld, and Steve Marvin - Olmstead Properties
- Asking Rent: $53/ft.
- Square Footage: 16,542
The lease of the office property at 525 Seventh Avenue was facilitated by the brokers involved in the transaction. Daniel Lolai represented the tenant, Reflex Resources, and Sam Friedfeld and Steve Marvin represented the landlord, Olmstead Properties.
Players
New York Office Market Snapshot
Boundary boundary · Office · Lease transactions
Loading comparables…
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