Warshaw Burstein Leases 40383 SF Office Space At 575 Lexington Ave, New York
575 Lexington Ave, New York, NY, 100...
Building Size
40,383 SF
Asset Type
Office
Closing
Aug 6, 2016
AI
Located at 575 Lexington Ave, New York, NY, 100..., this office space spans 40,383 square feet. The lease for this property was finalized on 08/06/2016 in New York. The tenant, Warshaw Burstein, was represented by Michael Burgio from Cushman & Wakefield, while Normandy Real Estate Partners served as the landlord.
Summary of transation details:
- Property Type: Office
- Transaction Amount: Not Provided
- Tenant: Warshaw Burstein
- Square Feet: 40,383
- Tenant's Rep: Michael Burgio (Cushman & Wakefield)
- Landlord: Normandy Real Estate Partners
The key individuals involved in this transaction include Michael Burgio from Cushman & Wakefield, who represented the tenant Warshaw Burstein, and Kyle Ciminelli, who acted as the landlord's representative for Normandy Real Estate Partners.
Players
New York Office Market Snapshot
Boundary boundary · Office · Lease transactions
Loading comparables…
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