Eurazeo Leases 6200 Square Feet At 745 5th Ave New York With Paramount Group As Landlord
745 5th Ave, New York, NY, 10151
Building Size
6,200 SF
Asset Type
Office
Closing
Dec 20, 2016
AI
The property involved in the transaction is located at 745 5th Ave, New York, NY, 10151. This Class-A tower comprises 35 stories, and the specific lease agreement pertains to an area of 6,200 square feet on the 32nd floor. The property is situated in the New York market.
Summary of transaction details:
- Property Type: Lease
- Transaction Amount: Not specified
- Address: 745 5th Ave, New York, NY, 10151
- Square Feet: 6,200
- Tenant: Eurazeo
- Landlord: Paramount Group
- Tenant's Rep: David Stockel (CBRE)
- Landlord's Rep: Douglas (Doug) Neye
This transaction marks the first US office lease for the French investment firm Eurazeo, which has partnered with landlord Paramount Group for this deal. The lease was brokered by a team from Transwestern, including Lindsay Ornstein, David Stockel, and Chase Gordon, along with Doug Neye representing the landlord.
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