Nicoletti Spinner Ryan Gulino Pinter LLP Renews Lease At 555 Fifth Avenue In New York City
555 5th Ave New York, NY 10017, USA
$63
$63/SF
Building Size
12,497 SF
Asset Type
Office
Closing
Jul 17, 2023
AI
A law firm, Nicoletti Spinner Ryan Gulino Pinter LLP, has decided to renew their lease at 555 Fifth Avenue in New York City. The firm will occupy a 12,497-square-foot space on the 8th floor of the office building. The lease was brokered by James Gale of CBRE, representing Nicoletti Spinner Ryan Gulino Pinter LLP, and Hemmerdinger Goodman of ATCO Properties & Management, representing the building's ownership. The asking rent for the space ranged from $58 to $63 per square foot.
Summary of transaction details
- Property Type: Office
- Transaction Amount: N/A
- Address: 555 Fifth Avenue
- Market: New York City
- Landlord: ATCO Properties & Management
- Tenant: Nicoletti Spinner Ryan Gulino Pinter LLP
- Broker: James Gale - CBRE
- Asking Rent: $63/ft
- Square Footage: 12,497
The lease renewal allows Nicoletti Spinner Ryan Gulino Pinter LLP to continue operating in a prime location within New York City. Both parties were represented by experienced brokers, James Gale of CBRE and Hemmerdinger Goodman of ATCO Properties & Management, ensuring a smooth negotiation process. The lease terms and asking rent demonstrate the value of the property and the desirability of the location for tenants in the office market.
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
251793.65%
Cash-on-Cash
-71963.40%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93