Simpson Thacher & Bartlett Leases 916,000 Square Feet At 570 Fifth Avenue In Manhattan
570 5th Avenue
Building Size
916,000 SF
Asset Type
Office
Closing
Jun 2, 2026
About this deal
AI
The property asset involved in this transaction is an office space located at 570 5th Avenue in Manhattan. The lease spans 916,000 square feet, making it a significant addition to the office market in the area.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not disclosed
- Address: 570 5th Avenue
- Market: Manhattan
- Landlord: Gary Barnett - Extell
- Tenant: Simpson Thacher & Bartlett
The deal represents the largest Manhattan office lease signed in May and includes an expansion of over 200,000 square feet to Simpson Thacher & Bartlett's original footprint.
On the Map
Office
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Players
Rochester 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