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589 8th Avenue, Manhattan, ...

Tax Advantage Advisors LLC Leases Office Space At 589 8th Avenue In Midtown Manhattan With Tower 39 Associates LLC - Neil Joffee As The Landlord
SOLDOffice

Tax Advantage Advisors LLC Leases Office Space At 589 8th Avenue In Midtown Manhattan With Tower 39 Associates LLC - Neil Joffee As The Landlord

589 8th Avenue, Manhattan, New York, NY, USA

$49

$0/SF

Building Size

3,400 SF

Asset Type

Office

Closing

Nov 29, 2020

AI

The office property located at 589 8th Avenue in Midtown has recently been leased. The lease transaction took place on November 30, 2020. The asset type for this property is office space.

Summary of transaction details

  • Property Type: Office
  • Transaction Date: November 30, 2020
  • Address: 589 8th Avenue
  • Market: Midtown

The tenant for this lease is Tax Advantage Advisors LLC. The landlord, in this case, is Tower 39 Associates LLC, with Neil Joffee representing the landlord's interests. The leasing deal was facilitated by brokers John Akleh from Sido NYRE, William Akleh from Sido Atlex, and Marc Williams.

The asking rent for this office space was $49 per square foot, and the size of the leased space amounts to 3,400 square feet.

Players

John Akleh

Broker

$49

vol

4 deals

Broker

Neil Joffee

Landlord

$49

vol

2 deals

Landlord

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

323734.69%

Cash-on-Cash

-92524.37%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93