Verizon Signs 49-Year Ground Lease At 620 12th Avenue In Hell's Kitchen
LEASED
New York
See Similar DealsOffice144,000 SF
Leased 06/28/2022
LEASED
Verizon Signs 49-Year Ground Lease At 620 12th Avenue In Hell's Kitchen
620 12th Avenue, New York City, New York 10036, United States
See Similar DealsOffice144,000 SF
Leased 06/28/2022
Summary
NEW YORK
Asset Type:Office
Total Square Footage:144,000 SF
Transaction Type:Lease
The ground lease for the office property at 620 12th Avenue in Hell’s Kitchen has been finalized. The property is owned by Edison Properties and the tenant is Verizon. The lease terms have been set for 49 years.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: N/A
- Address: 620 12th Avenue
- Market: Hell’s Kitchen
Jon Dario captured an image of the property for reference. The image can be found here. The property spans approximately 102,800 square feet, and the asking rent is $486 per square foot.
Note: No additional details are available at the moment.
Details
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Deal Type
NNN (Triple Net)
Effective Rent (Annual)
$8,253,993.10
Total Lease Value
$82,539,931.04
Net Landlord Cash Flow$8,253,993.10
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