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1166 6th Avenue, New York C...

Updated Oct 28, 2024

CBRE Represents Cohen & Steers In 15-Year Lease At 1166 Avenue Of The Americas
LEASEDOffice

CBRE Represents Cohen & Steers In 15-Year Lease At 1166 Avenue Of The Americas

1166 6th Avenue, New York City, New York 10036, United States

Building Size

160,960 SF

Asset Type

Office

Closing

Sep 12, 2022

About this deal

AI

Cohen & Steers has signed a 15-year lease for office space at 1166 Avenue of the Americas in Manhattan. The property, owned by Marsh & McLennan, spans approximately 160,960 square feet and was represented by David Falk, Andrew Sachs, Peter Shimkin, and Tim Gibson from Newmark. The asking rent was $87 per square foot.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not mentioned
  • Address: 1166 Avenue of the Americas
  • Market: Manhattan
  • Tenant: Cohen & Steers
  • Tenant's Rep: Michael Geoghegan, Michael Wellen, Silvio Petriello, Taylor Scheinman, and Ben Friedland - CBRE
  • Landlord: Marsh & McLennan
  • Landlord's Rep: David Falk, Andrew Sachs, Peter Shimkin, and Tim Gibson - Newmark
  • Asking Rent: $87 per square foot
  • Lease Terms: 15 years

The lease transaction was facilitated by the CBRE team, including Michael Geoghegan, Michael Wellen, Silvio Petriello, Taylor Scheinman, and Ben Friedland. They represented Cohen & Steers in the deal. The Newmark team, consisting of David Falk, Andrew Sachs, Peter Shimkin, and Tim Gibson, worked on behalf of Marsh & McLennan as the landlord's representatives.

On the Map

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Office

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Players

David Falk
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David Falk

Newmark

Broker

65 deals

Broker

Peter Shimkin

Newmark

Broker

$10M

vol

34 deals

Broker
MM
Marsh McLennanLandlord
CS
Cohen & SteersTenant
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New York Office Market Snapshot

Boundary boundary · Office · Lease transactions

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Deal FAQ

About $87 per square foot for 160,960 square feet (2022).

Visit Timothy (Tim) Gibson to view all their deals.

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

182333.33%

Cash-on-Cash

-52111.43%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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