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590 5th Ave, New York, NY, ...

Knotel Leases 11800 Square Feet At 590 5th Ave New York Represented By Aziz Kabbaj
LEASEDOffice

Knotel Leases 11800 Square Feet At 590 5th Ave New York Represented By Aziz Kabbaj

590 5th Ave, New York, NY, 10036

Building Size

11,800 SF

Asset Type

Office

Closing

Nov 19, 2023

AI

The property asset involved in this lease transaction is located at 590 5th Ave, New York, NY, 10036, within the New York market. The leased space covers 11,800 square feet and is being leased by the tenant, Knotel, to the landlord, Thor Equities.

Summary of transaction details:

This lease transaction involves several key individuals and firms. Adam Lavinsky and Dominic Perkovic are representing the landlord, Thor Equities, while Aziz Kabbaj is acting as the representative for the tenant, Knotel. Arthur Mirante serves as the broker in this deal, facilitating the agreement between the parties involved.

Players

Robert Chattah

Broker

$227M

vol

10 deals

Broker
Knotel
KnotelBrokerage
Thor Equities
Thor EquitiesLandlord
Knotel
KnotelTenant

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