Francisco Partners Signs 15-Year Lease At 1155 Avenue Of The Americas In Theater District
1155 Avenue Of The Americas, New York, NY 10036
Building Size
5,600 SF
Asset Type
Office
Closing
Sep 27, 2022
AI
1155 Avenue of the Americas in the Theater District has been leased to Francisco Partners. The office space, measuring 5,600 square feet, was leased for a term of 15 years. The asking rent for the lease was $102 per square foot.
Summary of transation details
- Property Type: Office
- Transaction Amount: Lease
- Address: 1155 Avenue of the Americas
- Market: Theater District
The landlord, Durst Organization, represented by Jonathan Durst, leased the property to Francisco Partners. The lender's representatives, Eric Cagner and Alex Leopold from Newmark, facilitated the deal. On the landlord's side, Tom Bow, Rocco Romeo, and Tanya Grimaldo, all from Durst, were involved in the transaction.
Players
New York 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