facebook

traded

+ Submit
Home

/

Deals

/

New York

/

Office

/

Lease

/

530 7th Ave, New York, NY, ...

Hickory Lane Capital Management Leases 2100 Sq Ft From Savitt Partners In New York
LEASEDOffice

Hickory Lane Capital Management Leases 2100 Sq Ft From Savitt Partners In New York

530 7th Ave, New York, NY, 10018

Building Size

2,100 SF

Asset Type

Office

Closing

May 27, 2020

AI

Hickory Lane Capital Management has signed a lease for a space located at 530 7th Ave, New York, NY, 10018. The leased space spans 2,100 square feet on the seventh floor and will serve as the firm’s headquarters. The property is situated in the Garment District, an area known for its central location and modern amenities.

Summary of transaction details:

  • Property Type: Lease
  • Transaction Amount: Not disclosed
  • Tenant: Hickory Lane Capital Management
  • Landlord: Savitt Partners
  • Tenant's Representative: Christina Combias-Voro Real Estate
  • Landlord's Representative: Alicia Parente-Savitt Partners
  • Square Feet: 2,100

Bob Savitt, founder and president of Savitt Partners, acknowledged the lease agreement and highlighted the flexible options available at 530 Seventh Avenue. Joshua Pearl, founder of Hickory Lane, expressed appreciation for the personalized attention from Savitt Partners during the lease process, ensuring the office would be ready for New York City’s reopening. The tenants also have access to Space 530, a co-working environment within the office tower that offers additional office spaces and meeting/conference rooms.

Players

Christina Combias

Voro Real Estate

Broker

$4.3M

vol

9 deals

Broker
Savitt Partners
Savitt PartnersBrokerage
Savitt Partners
Savitt PartnersLandlord

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