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
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