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1133 6th Ave, New York, NY,...

Michael Geoghegan Of CBRE Represents ING Financial Holdings In Lease Deal At 1133 6th Ave
LEASEDOffice

Michael Geoghegan Of CBRE Represents ING Financial Holdings In Lease Deal At 1133 6th Ave

1133 6th Ave, New York, NY, 10036

Building Size

132,000 SF

Asset Type

Office

Closing

Jan 26, 2016

AI

The property at 1133 Sixth Ave in New York, NY, 10036, is an office building where ING Financial Holdings signed a 10-year lease for 132,000 square feet. The tenant was represented by Michael Geoghegan of CBRE, while the landlord, Durst Organization, was represented by Rocco Romeo and Tom Bow.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not Applicable
  • Tenant: ING Financial Holdings
  • Square Feet: 132,000
  • Tenant's Representative: Michael Geoghegan (CBRE)
  • Landlord: Durst Organization
  • Other Representatives: Rocco Romeo, Tom Bow
  • Market: New York
  • Address: 1133 Sixth Ave, New York, NY, 10036

Covering an area of 132,000 square feet, ING Financial Holdings will be relocating from its current space at 1325 Sixth Ave to the new property. Additionally, there are pending deals for at least 100,000 square feet at 1133 Sixth Ave, with asking rents at the building ranging from the low $70s to the low $90s.

Players

Michael Geoghegan

CBRE

Broker

6 deals

Broker
Durst Organization
Durst OrganizationBrokerage
Durst Organization
Durst OrganizationLandlord

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