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597 5th Ave, New York, NY 1...

Club Monaco Signs Lease At 597 Fifth Avenue In Midtown Manhattan
LEASEDOther

Club Monaco Signs Lease At 597 Fifth Avenue In Midtown Manhattan

597 5th Ave, New York, NY 10017, USA

Building Size

13,000 SF

Asset Type

Other

Closing

Nov 7, 2019

AI

The property at 597 Fifth Avenue in Midtown has been involved in a closed transaction. The tenant, Club Monaco, has leased approximately 13,000 square feet of space. The landlord, Thor Equities, represented by Robert Cohen and Peter Whitenack of Newmark Knight Frank, facilitated the deal.

Summary of transaction details

  • Property Type: Not specified
  • Transaction Amount: Not specified
  • Tenant: Club Monaco
  • Landlord: Thor Equities
  • Tenant's Rep: Robert Cohen & Peter Whitenack - Newmark Knight Frank
  • Address: 597 Fifth Avenue
  • Market: Midtown
  • Asking RPSF: $1,000
  • SF: 13,000

Robert Cohen and Peter Whitenack from Newmark Knight Frank played a crucial role as the representatives of Thor Equities in this deal. They successfully negotiated the lease agreement for Club Monaco.

Players

Peter Whitenack

Newmark

Broker

$138.3M

vol

8 deals

Broker
Thor Equities
Thor EquitiesLandlord

New York Other Market Snapshot

Boundary boundary · Other · 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