Ropers Majeski Signs Lease At 800 3rd Avenue Manhattan For 11,000 Square Feet
800 3rd Avenue
$75
$75/SF
Building Size
11,000 SF
Asset Type
Office
Closing
Jun 25, 2024
AI
The property asset involved in this transaction is located at 800 3rd Avenue, Midtown Manhattan. It features an office space totaling 11,000 square feet on the 29th floor of a 41-story tower. The asking rent for the office space was $75 per square foot.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $825,000
- Address: 800 3rd Avenue
- Market: Midtown Manhattan
- Lease Term: eight-year, 10-month lease
- Landlord Representatives: Larry Swiger - SL Green Realty, Richard Teichman - Joseph P. Day Realty
- Tenant: Ropers Majeski
- Brokers: Robert Silver & Scott Brown - Newmark
- Asking Rent: $75/ft
- Square Footage: 11,000
Ropers Majeski signed a lease that will secure their occupation in the new space while relocating from 750 Third Avenue. This deal includes representation from Robert Silver and Scott Brown of Newmark as brokers facilitating the transaction.
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