Howden Tiger Renews And Expands Lease At 1350 6th Avenue In Midtown, Manhattan
1350 6th Avenue
Building Size
31,916 SF
Asset Type
Office
Closing
Sep 18, 2023
AI
Reinsurance brokerage Howden Tiger has renewed and expanded its lease at 1350 Avenue of the Americas in Midtown, Manhattan. The 10-year lease deal encompasses a total of 31,916 square feet, including the 34th and penthouse floors, in addition to their existing space on the 33rd floor.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 1350 6th Avenue, Midtown, Manhattan
- Market: Midtown, Manhattan
- Asset Size: 31,916 square feet
- Landlord: Howard Tenenbaum & Gary Rosen - SL Green Realty Corp
- Tenant: Howden Tiger - Rob Bredahl
- Broker: Leo Paytas - Newmark
In this lease transaction, Howden Tiger has secured a long-term commitment in Midtown, expanding their office space at 1350 Avenue of the Americas. The renewed lease grants them access to the 34th and penthouse floors, supplementing their existing space on the 33rd floor. The deal was facilitated by Leo Paytas of Newmark, representing Howden Tiger's interests in the negotiation process.
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