Jonathan Rose Companies Renews 11,300 Square Foot Lease With Feil Organization At 551 5th Avenue
551 5th Avenue
$72
$72/SF
Building Size
11,300 SF
Asset Type
Office
Closing
Aug 5, 2024
About this deal
AI
The leased property is located at 551 5th Avenue in Midtown Manhattan, an office asset featuring a lease renewal of 11,300 square feet for the tenant, Jonathan Rose Companies. The asking rent for this space is set at $72 per square foot.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $72/ft
- Square Footage: 11,300
- Address: 551 5th Avenue
- Market: Midtown Manhattan
- Landlord: Feil Organization
- Tenant: Jonathan Rose - Jonathan Rose Companies
- Landlord's Representative: Andrew Wiener, Kevin Driscoll & Henry Korzec - The Feil Organization
- Tenant's Representative: Giorgio Versea & John Fitzsimons - Cushman & Wakefield
This transaction involved key representatives from both the landlord and tenant. The Feil Organization was represented by Andrew Wiener, Kevin Driscoll, and Henry Korzec, while Cushman & Wakefield represented the tenant with Giorgio Versea and John Fitzsimons.
On the Map
$72
$72/SF
Office
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Players
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Boundary boundary · Office · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
220319.44%
Cash-on-Cash
-62967.97%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93