Nassimi LLC Leases Office Space In Times Square South, New York City
550 7th Avenue, Lower Manhattan, New York, NY, USA
Building Size
12,005 SF
Asset Type
Office
Closing
Sep 3, 2021
AI
The office property located at 550 Seventh Avenue in Times Square South has been leased. The transaction took place on 09/03/2021.
Summary of transation details
- Property Type: Office
- Asking Rent: $55/ft.
- Square Footage: 12,005
- Address: 550 Seventh Avenue
- Market: Times Square South
The landlord for this lease is Adler Group. On the tenant side, Nassimi LLC, represented by Kevin Nassimi and Daniel Nassimi, secured the lease. The brokers responsible for facilitating the deal were Daniel Lolai and Michael Heaner from LSL Advisors.
Please note that no further details are available regarding this lease.
Players
New York Office Market Snapshot
Boundary boundary · Office · 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