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575 Lexington Ave, New York...

Warshaw Burstein Leases 40383 SF Office Space At 575 Lexington Ave, New York
LEASEDOffice

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

Michael Burgio

Cushman & Wakefield

Broker

8 deals

Broker
Normandy Real Estate Partners
Normandy Real Estate PartnersLandlord

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