SEIU Local 32BJ Leases 20,778 Square Feet At 620 6th Avenue In Midtown Manhattan
620 6th Avenue
Building Size
20,778 SF
Asset Type
Office
Closing
Oct 8, 2024
About this deal
AI
The property asset involved in this transaction is an office space located at 620 6th Avenue in Midtown Manhattan. The lease comprises a total of 20,778 square feet situated on the ground floor, accommodating the operational needs of the tenant.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not disclosed
- Address: 620 6th Avenue
- Market: Midtown Manhattan
- Landlord: RXR
- Tenant: SEIU Local 32BJ
- Landlord's Representative: Daniel Birney - RXR Realty
- Tenant's Representative: Mark Weiss - Cushman & Wakefield
In this transaction, labor union SEIU Local 32BJ entered into a lease agreement with landlord RXR. Mark Weiss represented the tenant during the negotiation process, while Daniel Birney acted on behalf of the landlord, ensuring that both parties were adequately represented in the agreement.
On the Map
Office
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Players
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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