NYC Office Suites Leases 40,000 SF Office Space At 1270 6th Ave, New York
1270 6th Ave, New York, NY, 10020
Building Size
40,000 SF
Asset Type
Office
Closing
Mar 14, 2018
AI
Located at 1270 6th Ave, New York, NY, 10020, the office space spans 40,000 square feet within the Rockefeller Center complex in Midtown. Tishman Speyer serves as the landlord for this asset, with asking rents in the low-$70s per square foot.
Summary of transaction details:
- Property Type: Office
- Tenant's Representative: Sean Black()
- Market: New York
- Address: 1270 6th Ave, New York, NY, 10020
- Square Feet: 40,000
NYC Office Suites, a flexible-office provider, secured the lease for the entire seventh floor and part of the eighth floor at Tishman Speyer's 1270 Sixth Avenue. The transaction showcases their expansion into the Rockefeller Center complex, further solidifying their presence in Midtown.
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