EC Mergers & Acquisitions Leases 13884 Square Feet From SL Green At 877 3rd Ave New York
877 3rd Ave, New York, NY, 10022
Building Size
13,884 SF
Asset Type
Office
Closing
Mar 7, 2022
AI
877 3rd Ave is located in New York, NY, with a total area of 13,884 square feet. The asset is situated in a prominent location within the New York market and is part of a leasing transaction.
Summary of transaction details:
- Property Type: Lease
- Transaction Amount: Not specified
- Address: 877 3rd Ave, New York, NY, 10022
- Market: New York
- Tenant: EC Mergers & Acquisitions
- Landlord: SL Green
- Square Feet: 13,884
- Tenant's Representatives: Joseph Grotto - Cushman & Wakefield, Harry Singer - Meridian Capital Group
- Landlord's Representatives: Cole Gendels, Erik Harris - Newmark
- Brokers: Brian Waterman - Newmark, John Michael Cilmi - Newmark Knight Frank
The deal included key representatives from both the tenant and landlord sides, with Joseph Grotto and Harry Singer acting on behalf of the tenant while Cole Gendels and Erik Harris represented the landlord. The transaction involved brokers Brian Waterman and John Michael Cilmi, providing comprehensive support throughout the leasing process.
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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93