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635-641 Avenue of the Ameri...

Infor Leases 90,000 SF Office Space At 635-641 Avenue Of The Americas In Chelsea
LEASEDOffice

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

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:

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.

Players

Kirill Azovtsev

Savills

Broker

$10.3M

vol

29 deals

Broker
SL Green
SL GreenLandlord

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