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
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