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1325 6th Avenue

Focus Financial Leases 25000 Square Feet Office Space From Paramount Group In Manhattan
LEASEDOffice

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:

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

David Falk
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David Falk

Newmark

Broker

61 deals

Broker
JLL
JLLBrokerage
JLL
JLLLender

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