Fox Horan & Camerini Leases 19270 Square Feet At 877 3rd Ave New York From StepStone Group
877 3rd Ave, New York, NY, 10022
Building Size
19,270 SF
Asset Type
Office
Closing
Mar 8, 2018
About this deal
AI
The property involved in this transaction is located at 877 3rd Ave, New York, NY, 10022. It is situated in the New York market and consists of a total square footage of 19,270. The landlord of the property is the StepStone Group, while the tenant is Fox Horan & Camerini.
Summary of transaction details:
- Property Type: Lease
- Transaction Amount: Not specified
- Tenant: Fox Horan & Camerini
- Landlord: StepStone Group
- Square Feet: 19,270
- Tenant's Representative: Chris Mongeluzo (Newmark Knight Frank), Corey Borg (Newmark)
- Landlord's Representative: Kurt Handschumacher (Savills Studley)
The deal includes broker representation from Chris Mongeluzo and Corey Borg of Newmark Knight Frank, representing the tenant, and Kurt Handschumacher of Savills Studley, representing the landlord. Their roles were essential in facilitating the transaction between Fox Horan & Camerini and StepStone Group.
On the Map
Office
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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