Everest Leases 66,444 SF Office Space At 1155 6th Avenue, Midtown Manhattan
1155 6th Avenue
$85
$85/SF
Building Size
66,444 SF
Asset Type
Office
Closing
Apr 15, 2024
AI
The office property located at 1155 6th Avenue in Midtown Manhattan was leased out in a significant transaction. The space spans 66,444 square feet, with an asking rent of $85 per square foot.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Landlord: Jonathan Durst, Thomas Bow, Rocco Romeo, and Nora Caliban - Durst Organization
- Tenant: Everest
- Brokers: Eric Deutsch & Jared Freede - CBRE
- Lease Term: 15-year lease
Insurance and reinsurance firm Everest signed a 15-year lease for 66,444 square feet across the seventh through ninth floors of the building at 1155 6th Avenue. The deal was facilitated by brokers Eric Deutsch and Jared Freede of CBRE, marking a significant expansion of Everest's presence in New York City.
Players
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
186623.53%
Cash-on-Cash
-53337.58%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93