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609 5th Ave, New York, NY, ...

WeWork Leases 138563 Square Feet At 609 5th Ave New York From SL Green Realty Corp
LEASEDOffice

WeWork Leases 138563 Square Feet At 609 5th Ave New York From SL Green Realty Corp

609 5th Ave, New York, NY, 10017

Building Size

138,563 SF

Asset Type

Office

Closing

Oct 16, 2018

AI

The property asset involved in this transaction is located at 609 5th Ave, New York, NY, 10017, situated in the New York market. The leased space encompasses a total of 138,563 square feet and is associated with WeWork as the tenant, while SL Green Realty Corp. serves as the landlord.

Summary of transaction details:

  • Property Type: Lease
  • Transaction Amount: Not specified
  • Address: 609 5th Ave, New York, NY, 10017
  • Market: New York
  • Tenant: WeWork
  • Landlord: SL Green Realty Corp.
  • Square Feet: 138,563
  • Tenant's Representative: Michael Greenberg, Howard Hersch - JLL

Michael Greenberg and Howard Hersch from JLL represented WeWork in this lease transaction, facilitating the terms between the tenant and the landlord, SL Green Realty Corp.

Players

Michael Greenberg

Broker

$10.8M

vol

9 deals

Broker
Colliers
ColliersBrokerage
SL Green
SL GreenLandlord
WeWork
WeWorkTenant

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