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608 5th Avenue

JB International Leases Office Space At 608 5th Avenue, Manhattan
LEASEDOffice

JB International Leases Office Space At 608 5th Avenue, Manhattan

608 5th Avenue

$67

$67/SF

Building Size

13,227 SF

Asset Type

Office

Closing

May 1, 2024

AI

Located at 608 5th Avenue in Manhattan, the property involved in the lease transaction is an office space spanning 13,227 square feet. The deal was secured at an asking rent of $67 per square foot, with a lease agreement in place for 11 years.

Summary of transaction details:

The lease transaction at 608 5th Avenue was facilitated by David Katz from CBRE, representing the landlord, David Korien. On the tenant side, Avi Ben-Ishay from Eastwood Capital Properties served as JB International's representative in the deal.

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

236761.19%

Cash-on-Cash

-67667.08%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93