Portage Point Partners Leases 55000 Square Feet Office From Vornado Realty Trust In Manhattan
1290 6th Avenue
Building Size
55,000 SF
Asset Type
Office
Closing
Dec 8, 2025
AI
The property asset involved in the transaction is located at 1290 6th Avenue, Manhattan, encompassing an office space of 55,000 square feet. This lease involves Portage Point Partners, which will utilize the new space as an expansion from their previous 22,000-square-foot sublease at 640 Fifth Avenue.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 1290 6th Avenue
- Market: Manhattan
- Landlord: Steven Roth - Vornado Realty Trust
- Tenant: Matthew Guckel - Portage Point Partners
The deal highlights Steven Roth's representation as the landlord through his company Vornado Realty Trust, while Matthew Guckel represents Portage Point Partners as the tenant in this leasing agreement.
Players
New York Office Market Snapshot
Boundary boundary · Office · Lease transactions
Loading comparables…
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