Loeb Enterprises Renews Office Lease With Paramount Group At 712 5th Avenue In Manhattan
712 5th Avenue
Building Size
18,056 SF
Asset Type
Office
Closing
Sep 3, 2024
AI
The office asset, located at 712 5th Avenue in Manhattan, encompasses a total area of 18,056 square feet. The lease was renewed, allowing Loeb Enterprises to maintain its operations at this established address within a prominent market.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 712 5th Avenue
- Market: Manhattan
- Landlord: Paramount Group
- Tenant: Loeb Enterprises
- Broker: Anthony Dattoma - CBRE
Anthony Dattoma from CBRE represented Loeb Enterprises in the lease renewal deal with Paramount Group, ensuring the tenant's interests were maintained throughout the transaction process.
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