LEASEDOffice
Cole Schotz Expands Midtown Manhattan Presence With 32,128 SF Lease
1325 6th Avenue
Building Size
32,128 SF
Asset Type
Office
Closing
Mar 14, 2024
AI
The office property located at 1325 6th Avenue in Midtown Manhattan spans 32,128 square feet. The lease was secured by law firm Cole Schotz.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Landlord: Doug Neye - The Paramount Group
- Tenant: Cole Schotz
- Brokers: Ben Bouganim, Ed Wartels & Justin Halpern - Cushman & Wakefield
The lease deal at 1325 Sixth Ave was facilitated by brokers Ben Bouganim, Ed Wartels, and Justin Halpern from Cushman & Wakefield, representing both the landlord, Doug Neye of The Paramount Group, and the tenant, Cole Schotz.
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