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825 3rd Avenue

Dimension Renewable Energy Leases 11,054 SF Office Space In Midtown Manhattan
LEASEDOffice

Dimension Renewable Energy Leases 11,054 SF Office Space In Midtown Manhattan

825 3rd Avenue

Building Size

11,054 SF

Asset Type

Office

Closing

Feb 21, 2024

AI

An 11,054-square-foot office lease was secured by Dimension Renewable Energy at 825 Third Avenue in Midtown Manhattan. The lease encompasses the entire 18th floor of the building.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not provided
  • Address: 825 3rd Avenue
  • Market: Midtown Manhattan

Rafael Dobrzynski from Dimension Renewable Energy will be the tenant at the property, with Ashlea Aaron, Bailey Caliban, and Thomas (Tom) Bow representing the landlord, The Durst Organization. On the other side, Greg Maurer-Hollaender & James Ackerson from CBRE will serve as the tenant's representatives in this deal.

Players

Thomas Bow

Durst Organization

Broker

7 deals

Broker

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