Updated Oct 29, 2024
New York City Board Of Education Retirement System Leases 50992 Square Feet At 55 Water St
55 Water St, New York, NY, 10041
Building Size
50,992 SF
Asset Type
Commercial
Closing
Nov 7, 2019
About this deal
AI
The property involved in this lease transaction is located at 55 Water St, New York, NY, 10041. This asset encompasses a total area of 50,992 square feet and is situated within the New York market.
Summary of transaction details:
- Property Type: Lease
- Transaction Amount: Not specified
- Square Feet: 50,992
- Tenant: New York City Board of Education Retirement System
- Landlord: Retirement Systems of Alabama
- Tenant's Representative: Christine Colley-Cushman & Wakefield, John Harris-Cushman & Wakefield
- Landlord's Representative: Jonathan Cope-CBRE
This transaction highlights the involvement of key representatives in the leasing process. Christine Colley and John Harris represent the tenant, while Jonathan Cope represents the landlord in this deal. The transaction underscores the collaborative efforts between these parties in securing the lease agreement.
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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