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589 8th Ave, New York, NY, ...

Council On Adoptable Children Leases 5200 SF At 589 8th Ave From Tower 39 Associates
LEASEDOffice

Council On Adoptable Children Leases 5200 SF At 589 8th Ave From Tower 39 Associates

589 8th Ave, New York, NY, 10018

$49

$49/SF

Building Size

5,200 SF

Asset Type

Office

Closing

Nov 19, 2023

AI

The property involved in this transaction is located at 589 8th Ave, New York, NY, 10018. It is situated in the New York market and consists of 5,200 square feet. The rent per square foot for this lease is $49.

Summary of transaction details:

In this transaction, the tenant, represented by David Lebenstein from Cushman & Wakefield and Joe McLaughlin from Capstone Realty Advisors, has made an agreement with the landlord, Tower 39 Associates, whose interests were represented by Jared Winter of Newmark Knight Frank.

Players

David Lebenstein

Cushman & Wakefield

Broker

$75.7M

vol

11 deals

Broker
Two Trees Management
Two Trees ManagementBrokerage

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

323734.69%

Cash-on-Cash

-92524.37%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93