Forest City Ratner Companies Leases 42000 Square Feet At 1 Pierrepont Plaza In Brooklyn
1 Pierrepont PLZ Ste 1, Brooklyn, NY...
Building Size
42,000 SF
Asset Type
Commercial
Closing
Nov 19, 2023
AI
The property involved in this transaction is located at 1 Pierrepont PLZ Ste 1, Brooklyn, NY, within the Brooklyn market. It consists of 42,000 square feet and is leased by the landlord, Forest City Ratner Companies.
Summary of transaction details:
- Property Type: Lease
- Transaction Amount: Not specified
- Address: 1 Pierrepont PLZ Ste 1, Brooklyn, NY
- Market: Brooklyn
- Square Feet: 42,000
- Landlord: Forest City Ratner Companies
- Landlord's Representatives: Ali Esmaeilzadeh (brookfield-properties'>Brookfield Properties), Jesse Cooperman (brookfield-properties'>Brookfield Properties)
This deal involves key representatives from brookfield-properties'>Brookfield Properties, Ali Esmaeilzadeh and Jesse Cooperman, who acted on behalf of the landlord during the leasing process. Their roles were crucial in facilitating the transaction for Forest City Ratner Companies.
Players
Brooklyn Commercial Market Snapshot
Boundary boundary · Commercial · 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