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71 Spring St, New York, NY,...

Fig Agency Leases 25000 Square Feet At 71 Spring St In New York From United American Land
LEASEDOffice

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

Brett Harvey

Newmark

Broker

$270M

vol

28 deals

Broker
United American Land
United American LandLandlord

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