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730 3rd Avenue

Capalino Associates Leases 8,424 SF Office Space At 730 3rd Avenue In Turtle Bay, Manhattan
LEASEDOffice

Capalino Associates Leases 8,424 SF Office Space At 730 3rd Avenue In Turtle Bay, Manhattan

730 3rd Avenue

$88

$88/SF

Building Size

8,424 SF

Asset Type

Office

Closing

Nov 20, 2023

AI

Capalino Associates has secured an 8,424-square-foot lease at 730 Third Avenue in Turtle Bay, Manhattan. The office space is located at a prime address and offers ample square footage for Capalino Associates' operations. The lease comes with an asking rent of $88 per square foot, a favorable rate for the tenant. This relocation allows Capalino Associates to move from The Woolworth Building to a new space that better suits their needs.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: Not Provided
  • Address: 730 Third Avenue, Turtle Bay, Manhattan
  • Market: Turtle Bay, Manhattan

The landlords of 730 Third Avenue are Mike Sales from Nuveen Real Estate and Paul E. Pariser from Taconic Partners. They have facilitated the lease agreement with Capalino Associates. Representing the landlords in the deal are Emily Chabrier, Neil King, Paul Amrich, and Shay Kenney from CBRE. On the other hand, Capalino Associates is represented by David Hoffman, Robert Billingsley, and Sam Hoffman from Cushman & Wakefield. These brokers have played a crucial role in negotiating and finalizing the lease on behalf of their respective clients.

Players

Paul Amrich

CBRE

Broker

37 deals

Broker

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

180261.36%

Cash-on-Cash

-51519.25%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93