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655 3rd Ave, New York, NY, ...

Mitsubishi International Corporation Leases 120000 Square Feet At 655 3rd Ave New York
LEASEDOffice

Mitsubishi International Corporation Leases 120000 Square Feet At 655 3rd Ave New York

655 3rd Ave, New York, NY, 10017

Building Size

120,000 SF

Asset Type

Office

Closing

May 28, 2020

AI

The property involved in this transaction is located at 655 3rd Ave, New York, NY, 10017. It comprises 120,000 square feet and is situated in the New York market.

Summary of transaction details:

  • Property Type: Lease
  • Transaction Amount: Not disclosed
  • Address: 655 3rd Ave, New York, NY, 10017
  • Market: New York
  • Tenant: Mitsubishi International Corporation
  • Landlord: Durst Organization
  • Tenant's Representative: E.N. Cutler - Newmark

This transaction highlights the involvement of Mitsubishi International Corporation as the tenant, with the Durst Organization serving as the landlord. The deal was facilitated by E.N. Cutler from Newmark, representing the tenant in this closed lease transaction.

Players

E.N. Cutler

Newmark

Broker

3 deals

Broker
Durst Organization
Durst OrganizationBrokerage
Durst Organization
Durst OrganizationLandlord

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