Jon Dario Of Edison Properties Leases 26,000 Sq. Ft. To ElevatedNY In Midtown Manhattan
1120 6th Avenue
Building Size
130,000 SF
Asset Type
Office
Closing
Apr 24, 2025
AI
The property asset involved in this lease transaction is an office located at 1120 6th Avenue in Manhattan. The total square footage of the leased space is 130,000 sq. ft., which ElevatedNY occupies across four floors at the Hippodrome Building. The asset enhances ElevatedNY's presence in the Midtown area with this expansion.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not disclosed
- Square Footage: 130,000
- Address: 1120 6th Avenue
- Market: Manhattan
- Landlord: Jon Dario - Edison Properties
- Tenant: ElevatedNY
In this transaction, Jon Dario represents Edison Properties as the landlord while ElevatedNY, the tenant, has expanded its footprint in the Midtown area. The notable increase in space highlights ElevatedNY's growth and objectives in the marketplace.
Players
New York Office Market Snapshot
Boundary boundary · Office · 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