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680 5th Avenue

Christofferson, Robb & Company Leases 18,800 Square Feet At 680 Fifth Avenue In Midtown Manhattan
LEASEDOffice

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:

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

David Falk
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David Falk

Newmark

Broker

61 deals

Broker

New York Office Market Snapshot

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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