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1 MetroTech Center, Brookly...

New York University Leases 58000 Square Feet At 1 MetroTech Center Brooklyn With Forest City Ratner
LEASEDCondo

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

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.

Players

David Soles

New York University

Broker

1 deal

Broker
FC
Forest City Ratner CompaniesLandlord
NU
New York UniversityTenant

Brooklyn Condo Market Snapshot

Boundary boundary · Condo · 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