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1325 6th Avenue

Major League Baseball Players Association Signs 15-Year Lease At 1325 6th Avenue, Midtown Manhattan
LEASEDOffice

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:

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

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

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