Steven Evans & Joseph Zalta Represent Sage Realty In Manhattan Office Lease Deal
777 3rd Avenue
$75
$75/SF
Building Size
7,378 SF
Asset Type
Office
Closing
Mar 4, 2024
AI
The property at 777 3rd Avenue in Manhattan has been leased in a transaction facilitated by Sage Realty. The office space, spanning 7,378 square feet, was leased under a Modified Gross Lease for a term of 7 years. The deal was brokered by Steven Evans and Joseph Zalta of Platinum Properties, with an asking rent of $75 per square foot.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not provided
- Address: 777 3rd Avenue
- Market: Manhattan
- Landlord: Sage Realty
- Brokers: Steven Evans & Joseph Zalta - Platinum Properties
- Lease Type: Modified Gross Lease
- Lease Term: 7 Years
- Asking Rent: $75/ft
- Size: 7,378 SF
Steven Evans and Joseph Zalta, representing Platinum Properties, played a crucial role in finalizing the lease agreement for the office space at 777 3rd Avenue. This transaction underscores the expertise of the brokers and the strategic decision-making of Sage Realty in securing a long-term tenant for the property.
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
211506.67%
Cash-on-Cash
-60449.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93