WestPoint Home Leases 24650 Square Feet At 777 3rd Ave From Avon Products
777 3rd Ave, New York, NY, 10017
Building Size
24,650 SF
Asset Type
Office
Closing
Apr 5, 2019
AI
The property involved in this lease transaction is located at 777 3rd Ave, New York, NY, 10017, within the New York market. This property offers a total square footage of 24,650. The landlord for this transaction is Avon Products.
Summary of transaction details:
- Property Type: Lease
- Transaction Amount: Not disclosed
- Address: 777 3rd Ave, New York, NY, 10017
- Market: New York
- Square Feet: 24,650
- Tenant: WestPoint Home
- Landlord's Representatives: Michael Burlant (Cushman & Wakefield), Heather Thomas (Cushman & Wakefield)
- Brokers: Dale Schlather (Cushman & Wakefield), Jonathan (Jon) Fales (Cushman & Wakefield), Jonathan Plotkin (Colliers International)
The transaction involved multiple representatives from Cushman & Wakefield and Colliers International, showcasing collaboration in the leasing process. The brokers played a crucial role in facilitating the deal, representing WestPoint Home and Avon Products in negotiations and the execution of the lease.
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