660 5th Ave
660 5th Ave, New York, NY, 10022
Building Size
221,764 SF
Asset Type
Office
Closing
May 16, 2022
AI
The property involved in this transaction is located at 660 5th Ave, New York, NY, 10022, within the New York market. This asset comprises a total area of 221,764 square feet and is leased to the tenant, Macquarie Group. The landlord of the property is Brookfield Properties.
Summary of transaction details:
- Property Type: Lease
- Transaction Amount: Not specified
- Address: 660 5th Ave, New York, NY, 10022
- Market: New York
- Square Feet: 221,764
- Tenant: Macquarie Group
- Landlord: Brookfield Properties
- Tenant's Representatives: Kristina Kopans, Carlee Palmer, Cynthia Wasserberger, Jessica Berkey
- Brokers: Joseph (Joe) Messina, Frank Doyle, Hayley Schoener - JLL
The transaction involved key representatives from both the tenant and landlord sides. The tenant was represented by Kristina Kopans, Carlee Palmer, Cynthia Wasserberger, and Jessica Berkey, while the brokerage team included Joseph (Joe) Messina, Frank Doyle, and Hayley Schoener, all affiliated with JLL.
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