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80 8th Ave, New York, NY, 1...

Knotel Leases 11940 Square Feet At 80 8th Ave New York With Landlord GFP Real Estate
LEASEDOffice

Knotel Leases 11940 Square Feet At 80 8th Ave New York With Landlord GFP Real Estate

80 8th Ave, New York, NY, 10011

Building Size

11,940 SF

Asset Type

Office

Closing

Sep 23, 2022

AI

80 Eighth Ave, located in New York, NY, is a 20-story building constructed in 1929, known as the Banker’s Trust Company Building. It features a neo-gothic architectural style and encompasses a total of 185,000 square feet of commercial space. The building has undergone renovations including a newly updated lobby that modernizes its appeal while retaining its authentic elements. The location is strategically positioned at the intersection of Chelsea, the Meatpacking District, and the West Village, within a block's distance from significant landmarks including Google’s New York Headquarters and Chelsea Market.

Summary of transaction details:

  • Property Type: Lease
  • Transaction Amount: Not specified
  • Address: 80 8th Ave, New York, NY, 10011
  • Market: New York
  • Tenant: Knotel
  • Landlord: GFP Real Estate
  • Tenant's Representative: Gregory DiGioia (Newmark Knight Frank)
  • Landlord's Representative: Matthew Mandell
  • Square Feet: 11,940

Matthew Mandell represented the landlord, GFP Real Estate, in securing this lease transaction. The property has seen multiple lease activities, with notable tenants including Whitman Insight Strategies, Center for an Urban Future, Justin C James D.O, and Rockline Corp., each represented by various brokers in their respective transactions. The building also offers convenient access to public transportation with nearby A, C, E, L, 1, 2, and 3 trains facilitating easy commutes for tenants and employees.

Players

Daniel Lolai

LSL Advisors

Broker

$211.9M

vol

91 deals

Broker
Knotel
KnotelBrokerage
GFP Real Estate
GFP Real EstateLandlord
Knotel
KnotelTenant

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