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:
- Property Type: Lease
- Transaction Amount: Not specified
- Address: 590 5th Ave, New York, NY, 10036
- Market: New York
- Square Feet: 11800
- Tenant: Knotel
- Landlord: Thor Equities
- Tenant's Rep: Aziz Kabbaj
- Landlord's Reps: Adam Lavinsky (Thor Equities), Dominic Perkovic (Avison Young)
- Broker: Arthur Mirante (Avison Young)
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
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