Brevan Howard Signs 15-Year Lease At 1345 Avenue Of The Americas In Midtown Manhattan
1345 Avenue of the Americas, New York, NY 10105
Building Size
83,403 SF
Asset Type
Office
Closing
Sep 27, 2022
AI
An office space located at 1345 Avenue of the Americas in Midtown, Manhattan has been leased for a 15-year term. The property, spanning 83,403 square feet, was leased by Brevan Howard. The landlord, Fisher Brothers, was represented by Ken Fisher. The tenant's representation was provided by Dan Posy and Joseph Messina from JLL, while the landlord's representation involved Marc Packman, Clark Briffel, Charles Laginestra, and Josh Fisher from Fisher Brothers, as well as Howard Fiddle, Peter Turchin, Bill Iacovelli, Anthony Dattoma, Gregg Rothkin, and Benjamin Joseph from CBRE. The lease was signed on 09/28/2022 at an asking rent of $90 per square foot.
Summary of transaction details
- Property Type: Office
- Transaction Amount: N/A
- Address: 1345 Avenue of the Americas, Midtown, Manhattan
- Tenant: Brevan Howard
- Tenant's Rep: Dan Posy & Joseph Messina - JLL
- Landlord: Fisher Brothers - Ken Fisher
- Landlord's Rep: Marc Packman, Clark Briffel, Charles Laginestra & Josh Fisher - Fisher Brothers; Howard Fiddle, Peter Turchin, Bill Iacovelli, Anthony Dattoma, Gregg Rothkin & Benjamin Joseph - CBRE
- Asking Rent: $90/ft.
- SF: 83,403
- Lease Terms: 15-year
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