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HOPE Program Renews 10 Year Lease At 1 Smith Street Brooklyn With Cresa's Representation
LEASED
$45
New York
See Similar DealsOffice7,500 SF
Leased 11/14/2024
LEASED
HOPE Program Renews 10 Year Lease At 1 Smith Street Brooklyn With Cresa's Representation
1 Smith Street
See Similar DealsOffice7,500 SF
Leased 11/14/2024
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$45
Total Square Footage:7,500 SF
Transaction Type:Lease
The asset involved in this transaction is an office space located at 1 Smith Street in Downtown Brooklyn. The property consists of 7,500 square feet and has an asking rent of $45 per square foot.
Summary of transation details:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 1 Smith Street
- Market: Brooklyn
- Tenant: Tracey Capers - HOPE Program
- Brokers: Michael Herz & Waite Buckley - Cresa
- Lease Duration: 10 years
- Rent Reduction: 30%
This lease renewal for the HOPE Program was facilitated by negotiations led by Michael Herz and Waite Buckley of Cresa, ensuring a favorable outcome for the tenant.
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Deal Type
NNN (Triple Net)
Effective Rent (Annual)
$386,905.93
Total Lease Value
$3,869,059.27
Net Landlord Cash Flow$386,905.93
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