Patient Square Capital Leases Office Space At 767 5th Avenue In Manhattan For $220/ft
767 5th Avenue
$220
$220/SF
Building Size
21,000 SF
Asset Type
Office
Closing
Oct 15, 2024
AI
The property leased is located at 767 5th Avenue, Manhattan. It is an office asset with a total area of 21,000 square feet. The asking rent for this property was set at $220 per square foot, and the lease type is classified as Other.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $220/ft
- Square Footage: 21,000
- Address: 767 5th Avenue
- Market: Manhattan
- Landlord: Boston Properties
- Tenant: Patient Square Capital
- Landlord's Representative: Peter Turchin - CBRE
- Tenant's Representatives: Brett Harvey & Steven Rotter - Newmark
This transaction involved reputable firms with Peter Turchin representing the landlord, Boston Properties, through CBRE. The tenant, Patient Square Capital, was represented by Brett Harvey and Steven Rotter from Newmark, who facilitated the lease agreement.
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
72104.55%
Cash-on-Cash
-20607.70%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93