Infor Leases 90,000 SF Office Space At 635-641 Avenue Of The Americas In Chelsea
635-641 Avenue of the Americas, Chelsea, New York, NY, USA
Building Size
90,000 SF
Asset Type
Office
Closing
Mar 31, 2021
About this deal
AI
The office property located at 635-641 Avenue of the Americas in Chelsea has been leased. The tenant, Infor, has entered into a lease agreement with the landlord, SL Green Realty Corp. The property, spanning 90,000 square feet, was marketed as an office space for lease.
Summary of transaction details:
- Property Type: Office
- Asking Rent: $95/ft.
- Address: 635-641 Avenue of the Americas, Chelsea
- Tenant: Infor
- Landlord: SL Green Realty Corp.
- Brokers: Jim Wenk & Kirill Azovtsev from Savills, Brannan Moss from JLL, Jeremy Bier & Steven Durels from SL Green
The deal was facilitated by brokers Jim Wenk and Kirill Azovtsev from Savills, Brannan Moss from JLL, and Jeremy Bier and Steven Durels from SL Green. They represented the tenant, Infor, and the landlord, SL Green Realty Corp., in the lease transaction.
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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