Focus Financial Leases 25000 Square Feet Office Space From Paramount Group In Manhattan
1325 6th Avenue
Building Size
25,000 SF
Asset Type
Office
Closing
Jan 8, 2025
AI
The property asset involved in this transaction is an office space located at 1325 6th Avenue, Manhattan. The lease encompasses a total square footage of 25,000. The transaction is characterized by a 12-year lease agreement.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 1325 6th Avenue
- Market: Manhattan
- Landlord: Albert Behler - Paramount Group
- Tenant: Michael Nathanson - Focus Financial
- Landlord's Representatives: Peter Brindley & Sean Kirk - Paramount Group
- Tenant's Representatives: David Falk, Dylan Weisman & Jason Greenstein - Newmark
This transaction features key individuals such as Albert Behler representing the landlord and Michael Nathanson as the tenant. The arrangement was facilitated by agents from both Paramount Group and Newmark, bringing together a collaborative effort. Notably, Focus Financial is relocating from 875 Third Avenue as part of this lease agreement.
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