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1155 Avenue Of The Americas...

Francisco Partners Signs 15-Year Lease At 1155 Avenue Of The Americas In Theater District
LEASEDOffice

Francisco Partners Signs 15-Year Lease At 1155 Avenue Of The Americas In Theater District

1155 Avenue Of The Americas, New York, NY 10036

Building Size

5,600 SF

Asset Type

Office

Closing

Sep 27, 2022

AI

1155 Avenue of the Americas in the Theater District has been leased to Francisco Partners. The office space, measuring 5,600 square feet, was leased for a term of 15 years. The asking rent for the lease was $102 per square foot.

Summary of transation details

  • Property Type: Office
  • Transaction Amount: Lease
  • Address: 1155 Avenue of the Americas
  • Market: Theater District

The landlord, Durst Organization, represented by Jonathan Durst, leased the property to Francisco Partners. The lender's representatives, Eric Cagner and Alex Leopold from Newmark, facilitated the deal. On the landlord's side, Tom Bow, Rocco Romeo, and Tanya Grimaldo, all from Durst, were involved in the transaction.

Players

Eric Cagner

Newmark

Broker

27 deals

Broker
Durst Organization
Durst OrganizationBrokerage

Jonathan Durst

Durst Organization

Landlord

4 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