Meirowitz & Wasserberg Expands Office Space At 1040 6th Avenue With Landlord Skyline Developers
1040 6th Avenue
Building Size
12,007 SF
Asset Type
Office
Closing
Apr 16, 2025
AI
1040 6th Avenue is an office asset located in the Bryant Park market, encompassing a total of 12,007 square feet. This property has witnessed an expansion in its occupancy, particularly marked by the recent leasing activity.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 1040 6th Avenue
- Market: Bryant Park
- Landlord: Skyline Developers
- Tenant: Meirowitz & Wasserberg
- Brokers: Ariel Harwood & William Cohen - Newmark
- Previous Lease Size: 5,448 sq. ft.
- Current Lease Size: 24,014 sq. ft.
- Lease Date: 04/16/2025
Key individuals facilitating this transaction include Ariel Harwood and William Cohen, representing Newmark. They have played a significant role in negotiating the terms of the lease for Meirowitz & Wasserberg, who have notably expanded their office footprint by leasing two full floors at the property.
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