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
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
182333.33%
Cash-on-Cash
-52111.43%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93