New York City Police Foundation Leases 7,803 Square Feet At 530 Fifth Avenue In Manhattan
530 5th Avenue
$85
$85/SF
Building Size
7,803 SF
Asset Type
Office
Closing
Dec 6, 2024
About this deal
AI
The property asset involved in the transaction is an office space located at 530 5th Avenue, Manhattan. The space encompasses 7,803 square feet and has an asking rent of $85 per square foot, with a lease term of 11 years.
Summary of transation details:
- Property Type: Office
- Transaction Amount: $663,255
- Address: 530 5th Avenue
- Market: Manhattan
- Landlord: Scott Rechler & William Elder - RXR
- Tenant: Susan L. Birnbaum - New York City Police Foundation
- Landlord's Representatives: Andrew Ackerman & Walter Rooney - RXR Realty; John Ryan, Joseph Gervino & Patrick Steffens - Avison Young
- Tenant's Representatives: Alexander Kesseler & Joshua Berg - Newmark
- Lease Term: 11 years
- Square Footage: 7,803
The New York City Police Foundation is relocating from its current location at 555 Fifth Avenue. The lease agreement, facilitated by several representatives, signifies the nonprofit's commitment to law enforcement operations in the area.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
186623.53%
Cash-on-Cash
-53337.58%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93