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1345 Avenue of the Americas...

Brevan Howard Signs 15-Year Lease At 1345 Avenue Of The Americas In Midtown Manhattan
LEASEDOffice

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

Gregg Rothkin

CBRE

Broker

15 deals

Broker
Fisher Brothers
Fisher BrothersLandlord

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