facebook

traded

+ Submit
Home

/

Deals

/

New York

/

Commercial

/

Lease

/

1166 6th Ave, New York, NY,...

Janney Montgomery Scott Leases 35000 Square Feet From Edward J. Minskoff Equities In New York
LEASEDCommercial

Janney Montgomery Scott Leases 35000 Square Feet From Edward J. Minskoff Equities In New York

1166 6th Ave, New York, NY, 10001

Building Size

35,000 SF

Asset Type

Commercial

Closing

Nov 17, 2017

AI

The property involved in this transaction is located at 1166 6th Ave, New York, NY, 10001. It is situated in the New York market and encompasses 35,000 square feet. The asset is part of a 1.6 million-square-foot tower completed with a multimillion-dollar renovation, highlighting contemporary features and ornamental works by renowned artists.

Summary of transaction details:

  • Property Type: Lease
  • Transaction Amount: Not disclosed
  • Tenant: Janney Montgomery Scott
  • Tenant's Representative: Mitchell Marcus (JLL)
  • Landlord: Edward J. Minskoff Equities
  • Lease Duration: 10 years
  • Location Specifics: Part of the 21st floor
  • Asking Rents: Low-$80s per square foot

The key individuals involved in the deal include James Wenk and Mitchell Marcus, who represented Janney Montgomery Scott in this transaction. Additionally, a JLL team responsible for leasing at the building consists of Paul Glickman, Cynthia Wasserberger, Jonathan Fanuzzi, and Diana Biasotti, alongside Jeffrey Sussman from Minskoff Equities.

Players

Mitchell Marcus

JLL

Broker

2 deals

Broker
E
EquitiesLandlord
JS
Janney Montgomery ScottTenant

New York Commercial Market Snapshot

Boundary boundary · Commercial · Lease transactions

Loading comparables…

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