Major League Baseball Players Association Signs 15-Year Lease At 1325 6th Avenue, Midtown Manhattan
$77
$77/SF
Building Size
50,000 SF
Asset Type
Office
Closing
Jan 3, 2024
AI
The office asset located at 1325 6th Avenue in Midtown, Manhattan consists of 50,000 square feet and is leased at an asking rent of $77 per square foot. The landlord of the property is Paramount Group, represented by Albert Behler.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $77/ft
- Square Footage: 50,000
- Address: 1325 6th Avenue
- Market: Midtown, Manhattan
- Landlord: Paramount Group - Albert Behler
- Tenant: Major League Baseball Players Association - Robert Dean Manfred Jr.
- Landlord's Representative: Andrew Coe, Clark Finney, David Kleiner & Frank Doyle - JLL
- Tenant's Representative: Patrick Murphy & Will Yeatman - Cushman & Wakefield
The Major League Baseball Players Association has signed a 15-year lease to relocate its headquarters to this property, illustrating a significant commitment to the new location in Midtown, Manhattan.
Players
Market 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
206012.99%
Cash-on-Cash
-58879.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93