Nardello & Co Signs 12-Year Lease For 22000 Square Feet At 1212 6th Avenue
1212 6th Avenue
Building Size
22,000 SF
Asset Type
Office
Closing
Nov 19, 2024
AI
The property asset involved in this transaction is an office space located at 1212 6th Avenue in Midtown Manhattan. The asset encompasses a total of 22,000 square feet, accommodating the needs of its tenant. The market area is notable for its position at the center of the Rockefeller Center District.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 1212 6th Avenue
- Market: Midtown Manhattan
- Landlord: Faith Ryan - Stawski Partners
- Tenant: Dan Nardello - Nardello & Co
- Lease Term: 12 years
- Brokers: Diana Biasotti, Gregory Wang, Harrison Potter & Paul Glickman - JLL
This lease transaction involves the investigative firm Nardello & Co., which is relocating its global headquarters to this location. The decision to sign a 12-year lease is driven by an increase in demand for the firm’s corruption-related investigation services, solidifying its presence in a prominent market area.
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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93