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
Office
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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