Fig Agency Leases 25000 Square Feet At 71 Spring St In New York From United American Land
71 Spring St, New York, NY, 10012
Building Size
25,000 SF
Asset Type
Office
Closing
Nov 19, 2023
AI
The property involved in the transaction is located at 71 Spring St, New York, NY, 10012. The asset comprises a total of 25,000 square feet and is situated within the New York market.
Summary of transaction details:
- Property Type: LEASE
- Transaction Amount: Not specified
- Address: 71 Spring St, New York, NY, 10012
- Market: New York
- Square Feet: 25,000
- Tenant: Fig Agency
- Landlord: United American Land
- Tenant's Representative: Kevin Duffy (CBRE), Francis (Frank) Coco (JLL)
- Landlord's Representative: Brett Harvey (JLL), Howard Hersch (JLL)
The deal involves representatives from both sides, with Kevin Duffy from CBRE and Francis (Frank) Coco from JLL representing the tenant, Fig Agency. On the landlord's side, Brett Harvey and Howard Hersch, both from JLL, represent United American Land in this lease transaction.
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