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.
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