World Education Services Subleases Office Space At 1 State Street From K2 Real Estate Partners
1 State Street
Building Size
12,123 SF
Asset Type
Office
Closing
Apr 16, 2025
AI
The property asset involved is an office located at 1 State Street in Manhattan, encompassing a total of 12,123 square feet. World Education Services signed a sublease for this space, moving from its previous location at One Battery Park Plaza.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 1 State Street
- Market: Manhattan
- Landlord: Aaron Wolfson - K2 Real Estate Partners
- Tenant: World Education Services
- Landlord's Representative: Carri Lyon & Jenna Catalon - Cushman & Wakefield
- Tenant's Representative: C.J Heitner & Daniel Appel - Newmark
This transaction involved key individuals including Aaron Wolfson representing the landlord and C.J Heitner alongside Daniel Appel representing the tenant. Additionally, Carri Lyon and Jenna Catalon from Cushman & Wakefield acted as representatives for the landlord in this lease agreement.
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