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1155 6th Avenue

IMA New York Signs 10-Year Office Lease At 1155 Avenue Of The Americas In Midtown Manhattan
LEASEDOffice

IMA New York Signs 10-Year Office Lease At 1155 Avenue Of The Americas In Midtown Manhattan

1155 6th Avenue

Building Size

10,000 SF

Asset Type

Office

Closing

Nov 27, 2023

AI

The Durst Organization has leased a 10,000-square-foot office space located at 1155 Avenue of the Americas in Midtown Manhattan. The lease term is set for 10 years. The tenant, IMA New York, a division of insurance brokerage firm IMA Financial Group, will be occupying the space.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: N/A
  • Square Footage: 10,000
  • Address: 1155 Avenue of the Americas, Midtown Manhattan
  • Market: Midtown Manhattan

The lease agreement was facilitated by the brokers Brett Harvey and Howard Hersch from JLL.

Players

Brett Harvey

Newmark

Broker

$270M

vol

28 deals

Broker
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