Flacks Capital Signs Five-Year Lease For Office In Trump Tower Midtown Manhattan
725 5th Avenue
$90
$90/SF
Building Size
5,000 SF
Asset Type
Office
Closing
Feb 18, 2025
About this deal
AI
An office asset located at 725 5th Avenue in Midtown Manhattan has been leased. The property features a total of 5,000 square feet and has an asking rent of $90 per square foot. The lease agreement outlines a five-year term for the tenant.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $90/ft
- Square Footage: 5,000
- Address: 725 5th Avenue
- Market: Midtown Manhattan
- Landlord: Eric Trump & Donald Trump Jr - The Trump Organization
- Tenant: Michael Flacks - Flacks Capital
- Landlord's Representative: Myles Fennon - The Trump Organization
- Tenant's Representatives: Jake Leon & Matthew Leon - Newmark
- Lease Terms: Five-year lease
This lease marks Flacks Capital's first location in New York City. The firm is a Miami-based private equity company that specializes in industrial and manufacturing acquisitions, with its headquarters in Miami and additional offices in Tokyo and Paris.
Players
New York Office Market Snapshot
Boundary boundary · Office · Lease transactions
Loading comparables…
Deal FAQ
Visit Matthew (Matt) Leon to view all their deals.
Browse New York office leases on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
176255.56%
Cash-on-Cash
-50374.38%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93