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55 Water St, New York, NY, ...

New York City Board Of Education Retirement System Leases 50992 Square Feet At 55 Water St
LEASEDCommercial

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

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.

Players

Jonathan Cope

CBRE

Broker

$116.1M

vol

15 deals

Broker

New York 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