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1120 6th Avenue

Jon Dario Of Edison Properties Leases 26,000 Sq. Ft. To ElevatedNY In Midtown Manhattan
LEASEDOffice

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

Jon Dario

Edison Properties

Landlord

$3B

vol

22 deals

Landlord

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