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1221 Avenue of the Americas...

Rockefeller Group Leases Office Space To Tokio Marine At 1221 Avenue Of The Americas
LEASEDOffice

Rockefeller Group Leases Office Space To Tokio Marine At 1221 Avenue Of The Americas

1221 Avenue of the Americas, New Yo...

Building Size

21,499 SF

Asset Type

Office

Closing

Aug 8, 2016

AI

The asset involved in this transaction is an office space located at 1221 Avenue of the Americas, New York, with a total area of 21,499 square feet. The lease was executed on August 8, 2016, and the landlord for this property is Rockefeller Group.

Summary of transation details:

This transaction sees Tokio Marine as the tenant, while the representation for the tenant was provided by Michael Greenberg, Michael Berger of Colliers International, Peter Riguardi of JLL, and Michael Freedberg. Their roles were crucial in facilitating the lease agreement between Tokio Marine and Rockefeller Group.

Players

Michael Greenberg

Broker

$10.8M

vol

9 deals

Broker
Rockefeller Group
Rockefeller GroupLandlord

Market 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