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
- Property Type: Office
- Transaction Amount: Not specified
- Address: 693 Fifth Avenue
- Market: Midtown
- Tenant: Jellyfish
- Landlord: Marc Ladreit de Lacharrière
- Brokers: Ted Koltis, Cryder Bancroft, Tiffany Benton, and Damla Barrett – Colliers International
- Asking Rent: $80
- Square Footage: 9,508
- Term: 8 years
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
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