facebook

traded

+ Submit
Home

/

Deals

/

New York

/

Office

/

Lease

/

1166 6th Avenue, New York C...

CBRE Represents Cohen & Steers In 15-Year Lease At 1166 Avenue Of The Americas
LEASEDOffice

CBRE Represents Cohen & Steers In 15-Year Lease At 1166 Avenue Of The Americas

1166 6th Avenue, New York City, New York 10036, United States

$87

$87/SF

Building Size

160,960 SF

Asset Type

Office

Closing

Sep 12, 2022

AI

Cohen & Steers has signed a 15-year lease for office space at 1166 Avenue of the Americas in Manhattan. The property, owned by Marsh & McLennan, spans approximately 160,960 square feet and was represented by David Falk, Andrew Sachs, Peter Shimkin, and Tim Gibson from Newmark. The asking rent was $87 per square foot.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not mentioned
  • Address: 1166 Avenue of the Americas
  • Market: Manhattan
  • Tenant: Cohen & Steers
  • Tenant's Rep: Michael Geoghegan, Michael Wellen, Silvio Petriello, Taylor Scheinman, and Ben Friedland - CBRE
  • Landlord: Marsh & McLennan
  • Landlord's Rep: David Falk, Andrew Sachs, Peter Shimkin, and Tim Gibson - Newmark
  • Asking Rent: $87 per square foot
  • Lease Terms: 15 years

The lease transaction was facilitated by the CBRE team, including Michael Geoghegan, Michael Wellen, Silvio Petriello, Taylor Scheinman, and Ben Friedland. They represented Cohen & Steers in the deal. The Newmark team, consisting of David Falk, Andrew Sachs, Peter Shimkin, and Tim Gibson, worked on behalf of Marsh & McLennan as the landlord's representatives.

Players

David Falk
Verified Badge

David Falk

Newmark

Broker

61 deals

Broker

Peter Shimkin

Newmark

Broker

$10M

vol

33 deals

Broker
MM
Marsh McLennanLandlord
CS
Cohen & SteersTenant

New York Office Market Snapshot

Boundary boundary · Office · Lease transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

182333.33%

Cash-on-Cash

-52111.43%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93