Perkins Coie Expands To 1155 Sixth Ave, New York With 15-Year Lease
1155 6th Ave, New York, NY, 10036
Building Size
12,000 SF
Asset Type
Commercial
Closing
Jun 28, 2018
AI
The property involved in the lease transaction is located at 1155 6th Ave, New York, NY, 10036. The asset is a commercial space comprising 12,000 square feet in the New York market.
Summary of transaction details:
- Property Type: Commercial
- Transaction Amount: Not Applicable
- Tenant: Deutsche Börse
- Landlord: Durst Organization
- Tenant's Rep: Simon Landmann (JLL)
Perkins Coie, an international law firm, is expanding and relocating to 1155 Sixth Avenue from its current location at 30 Rockefeller Plaza. The lease agreement is for shy of 60,000 square feet with a term of 15 years. The company has been growing steadily in New York City since 2011.
Players
New York Commercial Market Snapshot
Boundary boundary · Commercial · 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