Christofferson, Robb & Company Leases 18,800 Square Feet At 680 Fifth Avenue In Midtown Manhattan
680 5th Avenue
$80
$80/SF
Building Size
18,800 SF
Asset Type
Office
Closing
Sep 3, 2024
AI
The property involved in the lease transaction is located at 680 Fifth Avenue in Midtown Manhattan. The total square footage of the lease is 18,800 square feet with an asking rent of $80 per square foot. The duration of the lease term is set for 10 years.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $1,504,000 (calculated as 18,800 SF * $80/SF)
- Landlord: Josef Buchmann
- Tenant: Christofferson, Robb & Company
- Landlord's Representative: Carlee Palmer, David Kleiner & Margaux Kelleher - JLL
- Tenant's Representative: David Falk & Eric Cagner - Newmark
- Lease Term: 10 years
- Address: 680 5th Avenue
- Market: Midtown Manhattan
Christofferson, Robb & Company is relocating its headquarters, moving just two blocks south to this new location. The landlord, Josef Buchmann, is represented in this transaction by Carlee Palmer, David Kleiner, and Margaux Kelleher from JLL, while the tenant is represented by David Falk and Eric Cagner from Newmark.
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
198287.50%
Cash-on-Cash
-56671.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93