Savitt Partners Leases Office Space At 528 7th Ave, New York
528 7th Ave, New York, NY, 10018
$65
$65/SF
Building Size
5,500 SF
Asset Type
Office
Closing
Jun 2, 2016
About this deal
AI
The office located at 528 7th Ave, New York, NY, 10018, in New York, with a size of 5500 square feet was leased for a rent of $65 per square foot. The lease was finalized on 06/02/2016. The tenant's representatives in this transaction were Martin Manilla from Pyramid Brokerage Company and Steve Birkhold from Cushman & Wakefield. The landlord for this property is Savitt Partners.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 528 7th Ave, New York, NY, 10018
- Market: New York
- Rent/SF: $65
- Square Feet: 5500
- Tenant's Rep: Martin Manilla (Pyramid Brokerage Company), Steve Birkhold (Cushman & Wakefield)
- Landlord: Savitt Partners
In this office lease transaction, Martin Manilla represented Pyramid Brokerage Company, and Steve Birkhold represented Cushman & Wakefield. They successfully facilitated the agreement between the tenant and the landlord, Savitt Partners, for the property at 528 7th Ave in New York. The leasing of 5500 square feet of office space at $65 per square foot was a key aspect of this deal.
Players
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Boundary boundary · Office · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
244046.15%
Cash-on-Cash
-69749.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93