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1350 6th Avenue

Howden Tiger Renews And Expands Lease At 1350 6th Avenue In Midtown, Manhattan
LEASEDOffice

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

Leo Paytas

Newmark

Broker

3 deals

Broker

Howard Tenenbaum

SL Green

Landlord

$16.3M

vol

11 deals

Landlord
SL Green
SL GreenLandlord

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