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877 3rd Ave, New York, NY, ...

EC Mergers & Acquisitions Leases 13884 Square Feet From SL Green At 877 3rd Ave New York
LEASEDOffice

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:

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

Erik Harris

Newmark

Broker

$300.4M

vol

27 deals

Broker
SL Green
SL GreenLandlord

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