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550 7th Avenue

Toccin Leases Office Space At 550 7th Avenue In Garment District
LEASEDOffice

Toccin Leases Office Space At 550 7th Avenue In Garment District

550 7th Avenue

$55

$55/SF

Building Size

5,800 SF

Asset Type

Office

Closing

Jun 3, 2024

AI

The office at 550 7th Avenue, located in the Garment District, was leased for a single net lease with an asking rent of $55 per square foot. The lease encompasses 5,800 square feet of space and involves the landlord, Kaufman Organization, and the tenant, Toccin.

Summary of transaction details:

Michael Heaner from Kaufman Organization and Oded Nachmani from Current Real Estate Advisors represented the landlord and the tenant, respectively, in the leasing transaction of the office space at 550 7th Avenue.

Players

Oded Nachmani

Current Real Estate Advisors

Broker

16 deals

Broker

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

288418.18%

Cash-on-Cash

-82430.80%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93