Shuji Matsuura Of Mizuho Americas Signs Seven-Year Sublease At 1285 6th Avenue, Manhattan
1285 6th Avenue
Building Size
151,409 SF
Asset Type
Office
Closing
Mar 3, 2025
About this deal
AI
The asset involved in this transaction is an office space located at 1285 6th Avenue in Manhattan, encompassing a total of 151,409 square feet. The leasing agreement pertains to a sublease arrangement without any publicly disclosed transaction amount.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not disclosed
- Square Footage: 151,409
- Address: 1285 6th Avenue
- Market: Manhattan
- Landlord: Scott Rechler - RXR
- Tenant: Shuji Matsuura - Mizuho Americas
- Lease Type: Sublease
In this transaction, Scott Rechler represents RXR as the landlord, while Shuji Matsuura represents Mizuho Americas as the tenant. Mizuho has opted for a seven-year sublease while retaining its 411,000-square-foot headquarters in the vicinity. Leasing activity in Manhattan has shown a decline in pace yet remains elevated when compared to the monthly average recorded in 2024.
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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