New York University Leases 58000 Square Feet At 1 MetroTech Center Brooklyn With Forest City Ratner
1 MetroTech Center, Brooklyn, NY, 11...
Building Size
58,000 SF
Asset Type
Condo
Closing
Nov 19, 2023
About this deal
AI
The property involved in this transaction is located at 1 MetroTech Center, Brooklyn, NY, encompassing a total of 58,000 square feet. It is situated within the Brooklyn market and is leased to New York University.
Summary of transation details:
- Property Type: Lease
- Transaction Amount: Not specified
- Address: 1 MetroTech Center, Brooklyn, NY
- Market: Brooklyn
- Tenant: New York University
- Landlord: Forest City Ratner Companies
- Tenant's Representative: David Soles
- Square Feet: 58,000
This transaction highlights the role of David Soles as the representative for New York University, facilitating the lease deal with landlord Forest City Ratner Companies, ensuring the needs and requirements of the tenant were met during the negotiation process.
On the Map
Condo
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Brooklyn Condo Market Snapshot
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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