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1345 6th Avenue

Paul, Weiss, Rifkind, Wharton & Garrison Signs Largest Office Lease In NYC At 1345 6th Avenue
LEASEDOffice

Paul, Weiss, Rifkind, Wharton & Garrison Signs Largest Office Lease In NYC At 1345 6th Avenue

1345 6th Avenue

Building Size

765,000 SF

Asset Type

Office

Closing

Dec 21, 2023

AI

Fisher Brothers has finalized a lease transaction for a 765,000 square foot office space at 1345 Avenue of the Americas in Midtown Manhattan. The lease, signed by law firm Paul, Weiss, Rifkind, Wharton & Garrison, is the largest office lease of 2023 in both New York City and the United States.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: Not specified
  • Address: 1345 Avenue of the Americas
  • Market: Midtown Manhattan
  • Square Footage: 765,000

Fisher Brothers, represented by Marc Packman, Clark Briffel, Charles Laginestra, and Josh Fisher, acted as the landlords in the deal. The tenant, Brad Karp of Paul, Weiss, Rifkind, Wharton & Garrison, was represented by Brian Cohen, Moshe Sukenik, and Chris Mongeluzo of Newmark. The lease term spans 20 years.

Players

Moshe Sukenik

Newmark

Broker

10 deals

Broker
Marc Packman

Marc Packman

Fisher Brothers

Landlord

7 deals

Landlord

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