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1251 6th Avenue

Solomon Partners Secures 15-Year Lease For 70,000 SF At Mitsui Fudosan America's 1251 Sixth Avenue
LEASEDOffice

Solomon Partners Secures 15-Year Lease For 70,000 SF At Mitsui Fudosan America's 1251 Sixth Avenue

1251 6th Avenue

Building Size

70,000 SF

Asset Type

Office

Closing

Dec 12, 2023

AI

Solomon Partners, the financial advisory firm formerly known as PJ Solomon, has secured a 15-year lease for 70,000 square feet at Mitsui Fudosan America’s 1251 Sixth Avenue in Midtown Manhattan. The office space's address is 1251 6th Avenue, and it is situated in the bustling market of Midtown Manhattan.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not provided in the available information
  • Square Footage: 70,000 SF
  • Address: 1251 6th Avenue
  • Market: Midtown Manhattan

The lease agreement was made between Solomon Partners and Mitsui Fudosan America, with John Kessler representing the landlord. Mitsui Fudosan America, owned by John Kessler, acted as the landlord for the property. David Falk and Peter Shimkin, from Newmark, represented the landlord in this deal. Solomon Partners, spearheaded by Peter J. Solomon, served as the tenant for this lease. The tenant's representation was handled by Michael Horner and Neil Goldmacher, also from Newmark.

Players

David Falk
Verified Badge

David Falk

Newmark

Broker

61 deals

Broker

Peter Shimkin

Newmark

Broker

$10M

vol

33 deals

Broker
Mitsui Fudosan America
Mitsui Fudosan AmericaLandlord

New York Office Market Snapshot

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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