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
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.
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
220319.44%
Cash-on-Cash
-62967.97%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93