LEASEDOffice
O’Melveny & Myers Signs 15-Year Lease At 1301 Sixth Ave, Midtown, Manhattan
1301 6th Avenue, New York City, New York 10019, United States
Building Size
142,000 SF
Asset Type
Office
Closing
Sep 19, 2022
About this deal
AI
The office building located at 1301 Sixth Ave in Midtown, Manhattan has been leased. The lease transaction was finalized on September 20, 2022.
Summary of transaction details:
- Property Type: Office
- Address: 1301 Sixth Ave, Midtown, Manhattan
- Market: Midtown, Manhattan
- Image: Albert Behler
- Lease Date: 09/20/2022
- Landlord: Paramount Group - Albert Behler
- Tenant: O’Melveny & Myers
- Tenant's Representatives: Lisa Kiell & Randy Abend - JLL, Lynn Wiliams & Jeff Welch - CBRE
- Landlord's Representatives: Peter Brindley & Doug Neye - Paramount, Frank Doyle & David Kleinere - JLL
- Asking Rent: $84/ft.
- Square Footage: 142,000 SF
- Lease Terms: 15-year
O’Melveny & Myers, a tenant in the lease transaction, was represented by Lisa Kiell and Randy Abend from JLL, as well as Lynn Wiliams and Jeff Welch from CBRE. The landlord, Paramount Group, was represented by Peter Brindley and Doug Neye from Paramount, as well as Frank Doyle and David Kleinere from JLL.
On the Map
Office
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Players
Paramount GroupLender
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