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550 7th Ave, New York, NY, ...

InVision Communications Signs Lease For 12000 Square Feet At 550 7th Ave New York
LEASEDOffice

InVision Communications Signs Lease For 12000 Square Feet At 550 7th Ave New York

550 7th Ave, New York, NY, 10018

Building Size

12,000 SF

Asset Type

Office

Closing

Jul 5, 2016

AI

The property asset involved in the transaction is located at 550 7th Ave, New York, NY, 10018. It covers a total area of 12,000 square feet and is situated in the New York market.

Summary of transaction details:

  • Property Type: Lease
  • Transaction Amount: Not disclosed
  • Address: 550 7th Ave, New York, NY, 10018
  • Square Feet: 12,000
  • Tenant: InVision Communications
  • Landlord: The Kaufman Organization
  • Tenant's Representative: Christie Bennet (Newmark Grubb Knight Frank)
  • Landlord's Representatives: Michael Heaner and Sam Stein

InVision Communications executed a lease agreement, with Christie Bennet and Robin Fisher from Newmark Grubb Knight Frank representing the tenant. The Kaufman Organization was represented in-house by Michael Heaner and Sam Stein during the transaction.

Players

Christie Bennet

CBRE

Broker

7 deals

Broker
Kaufman Organization
Kaufman OrganizationBrokerage
Kaufman Organization
Kaufman OrganizationLandlord

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