Crain Communications Leases 6758 Square Feet At 685 3rd Ave New York From Unizo Holding Co
685 3rd Ave, New York, NY, 10017
Building Size
6,758 SF
Asset Type
Office
Closing
Aug 30, 2018
About this deal
AI
685 3rd Ave, New York, NY, 10017, is a commercial property in the New York market. The property includes a lease expansion of 6,758 square feet for Crain Communications, with a lease term of five years.
Summary of transaction details:
- Property Type: Lease
- Transaction Amount: Not specified
- Square Feet: 6,758
- Tenant: Crain Communications
- Landlord: Unizo Holding Co.
- Tenant's Representative: Mary Ann Tighe (CBRE)
- Landlord's Representatives: Clark Finney (JLL), Daniel Santagata (JLL), Frank Doyle (JLL), Jonathan Fanuzzi (Newmark)
- Brokers: Ken Meyerson (CBRE), David Hollander (CBRE)
Brad Auerbach, David Hollander, Ken Meyerson, and Mary Ann Tighe represented Crain Communications in the lease expansion, while Unizo Holding Co. was represented in the transaction by Matthew Astrachan, Frank Doyle, Jonathan Fanuzzi, Clark Finney, and Dan Santagata from JLL.
On the Map
Office
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Players
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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