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].
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