LEASEDOffice
Scotiabank Leases 205000 SF Office Space At 660 Fifth Avenue In Midtown Manhattan
660 5th Avenue
Building Size
205,000 SF
Asset Type
Office
Closing
Sep 16, 2025
AI
The asset involved in this transaction is an office space located at 660 5th Avenue in Midtown Manhattan, encompassing a total area of 205,000 square feet.
Summary of transation details:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 660 5th Avenue
- Market: Midtown Manhattan
- Square Footage: 205,000
- Landlord: Brian Kingston - Brookfield Properties
- Tenant: Scotiabank
- Landlord's Representatives: Bobby Dan Roberts, Mikael Nahmias & Andrew Dunn - Brookfield Properties; Howard Fiddle, Peter Turchin, John Maher, Brett Shannon, Cara Chayet & Trevor Larkin - CBRE
- Tenant's Representatives: Michael Geoghegan, Ramneek Rikhy & Eric Thomas - CBRE
Scotiabank is set to relocate its New York office from 250 Vesey Street to the newly acquired space at 660 Fifth Avenue, which spans three floors within the building.
Players
Brookfield PropertiesBrokerage
Brookfield PropertiesBrokerage
CBREBrokerage
Brookfield PropertiesLandlord
Scotiabank Tenant
New York Office Market Snapshot
Boundary boundary · Office · Lease transactions
Loading comparables…
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