Philippine National Bank Signs Lease At 561 7th Ave, New York
561 7th Ave, New York, NY 10018
Building Size
4,000 SF
Asset Type
Office
Closing
Mar 28, 2018
About this deal
AI
The property asset involved in this transaction is an office space located at 561 7th Ave, New York, NY, 10036. The leased area encompasses 4,000 square feet. This transaction takes place within the New York market, indicating a competitive environment for office rentals in the region.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not disclosed
- Address: 561 7th Ave, New York, NY, 10036
- Square Feet: 4,000
- Tenant: Philippine National Bank
- Landlord: Handler Real Estate Organization
- Tenant's Representative: Nicholas Bates - CBRE
- Landlord's Representatives: Richard Farley - Handler Real Estate, Scott Galin
The deal involves key representatives including Nicholas Bates from CBRE representing the tenant, Philippine National Bank, and Richard Farley along with Scott Galin representing the landlord, Handler Real Estate Organization. These representatives played crucial roles in facilitating the lease agreement for the office space.
On the Map
Office
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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