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1120 6th Ave, New York, NY,...

Indeed Leases 12493 Square Feet At 1120 6th Ave From Edison Properties With Brokers From CBRE And Cushman & Wakefield
LEASEDOffice

Indeed Leases 12493 Square Feet At 1120 6th Ave From Edison Properties With Brokers From CBRE And Cushman & Wakefield

1120 6th Ave, New York, NY, 10036

Building Size

12,493 SF

Asset Type

Office

Closing

Jan 31, 2019

AI

The property involved in this transaction is located at 1120 6th Ave, New York, NY, 10036. This asset is situated in the New York market and encompasses a total of 12,493 square feet.

Summary of transaction details:

A note regarding representation indicates that Jeff Fischer, Christopher Mansfield, John G. Nugent, and others represented Indeed, Inc. in the sublease expansion deal. The owner, Edison Properties, was represented by Michael Burgio and Daniel Organ of Cushman & Wakefield in this transaction.

Players

John Nugent

JLL

Broker

$62M

vol

11 deals

Broker
EP
Edison PropertiesLandlord

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