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
About this deal
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, TheDurst Organization. On the other side, Greg Maurer-Hollaender & James Ackerson from CBRE will serve as the tenant's representatives in this deal.
On the Map
Office
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Players
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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