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745 5th Ave, New York, NY, ...

Eurazeo Leases 6200 Square Feet At 745 5th Ave New York With Paramount Group As Landlord
LEASEDOffice

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

Douglas Neye

Broker

3 deals

Broker
Paramount Group
Paramount GroupLender
Paramount Group
Paramount GroupLandlord

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