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693 5th Ave, New York, NY 1...

Jellyfish Signs 8-Year Lease At 693 Fifth Avenue In Midtown Manhattan
LEASEDOffice

Jellyfish Signs 8-Year Lease At 693 Fifth Avenue In Midtown Manhattan

693 5th Ave, New York, NY 10022, USA

Building Size

9,508 SF

Asset Type

Office

Closing

Apr 28, 2020

AI

The property involved in this transaction is located at 693 Fifth Avenue in Midtown. It is an office asset with a total square footage of 9,508. The tenant, Jellyfish, has entered into a lease agreement for a term of 8 years. The landlord in this deal is Marc Ladreit de Lacharrière. Colliers International represented both parties in the transaction, with brokers Ted Koltis, Cryder Bancroft, Tiffany Benton, and Damla Barrett facilitating the lease.

Summary of transaction details

This transaction involved key individuals and companies such as Ted Koltis, Cryder Bancroft, Tiffany Benton, and Damla Barrett from Colliers International. They represented both the tenant and the landlord in the lease agreement for the office space at 693 Fifth Avenue in Midtown.

Players

Cryder Bancroft

Colliers

Broker

2 deals

Broker

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