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220 5th Ave, New York, NY 1...

Ambition Leases Office Space In NoMad From Stellar Management At 220 5th Ave, New York, NY 10001
SOLDOffice

Ambition Leases Office Space In NoMad From Stellar Management At 220 5th Ave, New York, NY 10001

220 5th Ave, New York, NY 10001, USA

$81

$0/SF

Building Size

5,874 SF

Asset Type

Office

Closing

Mar 1, 2017

AI

An office space located at 220 5th Ave, New York, NY 10001, USA in the NoMad market has been leased. The tenant, Ambition, has signed a lease agreement with the landlord, Stellar Management. The lease transaction was facilitated by brokers from SABRE and Cushman & Wakefield.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: Not specified
  • Address: 220 5th Ave, New York, NY 10001, USA
  • Market: NoMad
  • Tenant: Ambition
  • Landlord: Stellar Management
  • Brokers: SABRE - Jay Siano, Sean Young | Cushman & Wakefield - Patrick O’Rourke, Sean Moran
  • Lease Term: Not specified
  • Rent per Square Foot: $40,000
  • Total Square Feet: 5,874

The deal involved the collaboration of multiple brokers. Jay Siano and Sean Young represented the tenant, Ambition, while Patrick O’Rourke and Sean Moran represented the landlord, Stellar Management. They played crucial roles in negotiating the terms of the lease transaction.

Players

Stellar Management
Stellar ManagementLender
Stellar Management
Stellar ManagementLandlord

New York Office Market Snapshot

Boundary boundary · Office · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

195839.51%

Cash-on-Cash

-55971.53%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93