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
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