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545 5th Ave, New York, NY, ...

International Gemological Institute Leases 23569 Square Feet From The Moinian Group At 545 5th Ave
LEASEDOffice

International Gemological Institute Leases 23569 Square Feet From The Moinian Group At 545 5th Ave

545 5th Ave, New York, NY, 10017

Building Size

23,569 SF

Asset Type

Office

Closing

Mar 14, 2022

AI

The lease transaction involves a property located at 545 5th Ave, New York, NY, 10017, within the New York market. The property encompasses 23,569 square feet. The transaction is specifically between the International Gemological Institute as the tenant and The Moinian Group as the landlord.

Summary of transaction details:

  • Property Type: Lease
  • Transaction Amount: Not specified
  • Address: 545 5th Ave, New York, NY, 10017
  • Market: New York
  • Square Feet: 23,569
  • Tenant: International Gemological Institute
  • Landlord: The Moinian Group
  • Brokers: Jarod Stern - Savills Studley

Jarod Stern represents Savills Studley in this lease transaction, facilitating the agreement between the International Gemological Institute and The Moinian Group for the property at 545 5th Ave.

Players

Jarod Stern

Savills

Broker

5 deals

Broker
Cushman & Wakefield
Cushman & WakefieldBrokerage
The Moinian Group
The Moinian GroupLandlord

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