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
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