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570 5th Avenue

Simpson Thacher & Bartlett Leases 916,000 Square Feet At 570 Fifth Avenue In Manhattan
LEASEDOffice

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

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.

Players

Gary Barnett

EXTELL

Landlord

$8.3B

vol

59 deals

Landlord
Simpson Thacher & Bartlett
Simpson Thacher & BartlettTenant

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