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1301 6th Avenue, New York C...

O’Melveny & Myers Signs 15-Year Lease At 1301 Sixth Ave, Midtown, Manhattan
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

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:

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.

Players

Frank Doyle

JLL

Broker

$538.2M

vol

26 deals

Broker
Paramount Group
Paramount GroupLender
Albert Behler

Albert Behler

Paramount Group

Landlord

$1.3B

vol

12 deals

Landlord

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