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875 6th Avenue

Holt Construction Leases 6992 Square Feet At 875 Avenue Of The Americas, New York
LEASEDOffice

Holt Construction Leases 6992 Square Feet At 875 Avenue Of The Americas, New York

875 6th Avenue

Building Size

6,992 SF

Asset Type

Office

Closing

Apr 7, 2021

AI

The lease transaction involves a commercial space located at 875 Avenue of the Americas, New York. The leased area measures 6,992 square feet, catering to the needs of the tenant.

Summary of transaction details:

This transaction highlights the collaboration between Holt Construction and the landlords 875 LLC & New 875 LLC. Joseph Armano and Evan Elias from Armano Real Estate represented Holt Construction, while Justin Myers and Dennis Someck from Lee & Associates represented the landlords in this lease arrangement.

Players

Dennis Someck

Lee & Associates

Broker

26 deals

Broker
Cushman & Wakefield
Cushman & WakefieldBrokerage

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