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660 5th Ave, New York, NY, ...

660 5th Ave
LEASEDOffice

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:

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

Frank Doyle

JLL

Broker

$538.2M

vol

26 deals

Broker
B6 Real Estate Advisors
B6 Real Estate AdvisorsBrokerage

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