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
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