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
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