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590 5th Avenue

Avi Ben- Ishay Represents Multiple Tenants In 590 5th Avenue Office Lease
LEASEDOffice

Avi Ben- Ishay Represents Multiple Tenants In 590 5th Avenue Office Lease

590 5th Avenue

$73

$73/SF

Building Size

28,144 SF

Asset Type

Office

Closing

Mar 4, 2024

AI

The property at 590 5th Avenue, located in Manhattan, was leased to multiple tenants including Leviev Diamonds, Designs On FIfth, Aliena Medical, Antwerp Diamonds, Brichelle Diamonds, and Allure Diamonds Inc. The lease, facilitated by Avi Ben- Ishay of Eastwood Capital Properties, covers a total space of 28,144 square feet with an asking rent of $73 per square foot. The lease type is a Modified Gross Lease for a duration of 11 years.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not specified
  • Tenants: Leviev Diamonds, Designs On FIfth, Aliena Medical, Antwerp Diamonds, Brichelle Diamonds, Allure Diamonds Inc
  • Landlord & Tenant's Rep: Avi Ben- Ishay - Eastwood Capital Properties
  • Space: 28,144 square feet
  • Address: 590 5th Avenue, Manhattan
  • Market: Manhattan
  • Lease Type: Modified Gross Lease
  • Lease Term: 11 years

Avi Benishay of Eastwood Capital represented all tenants on various floors from 8th to 19th, including access to the roof terrace. Additionally, the 6th and 7th floors are available for lease, each offering 6,350 RSF of space. For any inquiries, contact Avi Benishay at [email protected].

Players

Avi Ben- Ishay

Eastwood Capital Properties

Broker

$219.1M

vol

9 deals

Broker

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

217301.37%

Cash-on-Cash

-62105.40%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93