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1133 6th Avenue

Steptoe Signs 15-Year Lease For 57,988 Square Feet At 1133 6th Avenue In Midtown Manhattan
LEASEDOffice

Steptoe Signs 15-Year Lease For 57,988 Square Feet At 1133 6th Avenue In Midtown Manhattan

1133 6th Avenue

Building Size

57,988 SF

Asset Type

Office

Closing

Jul 23, 2025

AI

The property asset involved in this transaction is located at 1133 6th Avenue, situated in the Midtown Manhattan market. The asset type is an office space with a total square footage of 57,988. The transaction involves a long-term lease agreement.

Summary of transation details:

  • Property Type: Office
  • Lease Term: 15-year lease
  • Landlord: Douglas Durst & Jody Durst - Durst Organization
  • Tenant: Michelle Levin - Steptoe
  • Location: 1133 6th Avenue, Midtown Manhattan
  • Previous Location of Tenant: 1114 Sixth Avenue

The key individuals involved in this deal include Douglas Durst and Jody Durst representing the landlord, Durst Organization, and Michelle Levin representing the tenant, Steptoe. The transaction highlights a significant relocation for the tenant to occupy the top three floors of the mentioned address.

Players

Durst Organization
Durst OrganizationLandlord

Jody Durst

Durst Organization

Landlord

11 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