Berenberg Capital Markets Signs Lease For 32000 Square Feet At 1251 6th Ave New York
1251 6th Ave, New York, NY, 10020
Building Size
32,000 SF
Asset Type
Office
Closing
Mar 28, 2017
About this deal
AI
The property at 1251 6th Ave, New York, NY, 10020 is located in the New York market and is comprised of 32,000 square feet. It is situated in a 53-floor building owned by Mitsui Fudosan, and the lease transaction involves the entire top floor.
Summary of transaction details:
- Property Type: Lease
- Transaction Amount: Not disclosed
- Address: 1251 6th Ave, New York, NY, 10020
- Market: New York
- Tenant: Berenberg Capital Markets
- Landlord: Mitsui Fudosan
- Tenant's Representative: Benjamin Bass, JLL
- Landlord's Representative: Alexander Chudnoff, JLL
- Transaction Duration: 10 years
Berenberg Capital Markets, a German bank operating in the United States since 1883, has engaged in this lease transaction with a representation from JLL broker Benjamin Bass. The landlord, Mitsui Fudosan, is represented by JLL's Mitchell Konsker along with Alexander Chudnoff.
On the Map
Office
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Players
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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