Huge Leases Office Space At 1 Dock 72 Way In Navy Yard
1 Dock 72 Way, Brooklyn Navy Yard, New York, NY 11251
Building Size
71,000 SF
Asset Type
Office
Closing
Jul 31, 2022
AI
The office property located at 1 Dock 72 Way in Navy Yard has been leased in a transaction involving Huge as the tenant. The lease deal was facilitated by brokers Cara Chayet and David Hollander from CBRE, Winter Stockwell from Huge, Andrew Levin from Boston Properties, and Robert Steinman from Rudin. The lease was executed between the tenant, Huge, and the landlord, Rudin Management & Boston Properties represented by Eric Rudin.
Summary of transaction details:
- Property Type: Office
- Tenant: Huge
- Landlord: Rudin Management & Boston Properties - Eric Rudin
- Brokers: Cara Chayet & David Hollander - CBRE, Winter Stockwell - Huge, Andrew Levin - Boston Properties, Robert Steinman - Rudin
- Address: 1 Dock 72 Way
- Market: Navy Yard
This lease transaction was executed on 08/01/2022, with an asking rent ranging between $50-60 per square foot. The office space comprises 71,000 square feet.
Players
New York Office Market Snapshot
Boundary boundary · Office · 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