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The New York State Office Of Court Administration Leases Office Space In Downtown Brooklyn

Property Image
LEASED
$70

New York

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Office27,304 SF
Leased 07/31/2023
the dealdetailscomps
Property Image
LEASED

The New York State Office Of Court Administration Leases Office Space In Downtown Brooklyn

235 Duffield St, Brooklyn, NY 11201, United States

See Similar Deals
Office27,304 SF
Leased 07/31/2023
the dealdetailscomps

Summary

NEW YORK
Asset Type:Office
Price Per Square Foot:$70
Total Square Footage:27,304 SF
Transaction Type:Lease

The New York State Office of Court Administration has signed a lease for 27,304 square feet of office space at 1 Willoughby Square in Downtown Brooklyn. The lease term is set for 21 years. The property, owned by JEMB Realty, is located in the Brooklyn market. The asking rent for the space was $70 per square foot.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: Not specified
  • Address: 1 Willoughby Square
  • Market: Brooklyn
  • Landlord: JEMB Realty
  • Tenant: The New York State Office of Court Administration
  • Asking Rent: $70 per square foot
  • Lease Term: 21 years

The lease agreement was made between JEMB Realty, the landlord, and The New York State Office of Court Administration, the tenant. The New York State Office of Court Administration will occupy the 27,304 square feet of office space in 1 Willoughby Square. The lease was secured at an asking rent of $70 per square foot for the office space.

Details

LEASED
IMAGE: Morris Jerome, Morris Bailey & Louis Jerome DATE: 07/31/2023 ADDRESS: 1 Willoughby Square MARKET: Brooklyn ASSET TYPE: Office LANDLORD: JEMB Realty TENANT: The New York State Office of Court Administration ASKING RENT: $70/ft ~ SF: 27,304 LEASE TERM: 21 years NOTE: The New York State Office of Court Administration has signed a lease for 27,304 square feet at 1 Willoughby Square in Downtown Brooklyn. The lease, lasting 21 years, was secured with landlord JEMB Realty at an asking rent of $50 to $70 per square foot for an office space.

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Deal Type
Effective Rent (Annual)

$2,191,068.33

Total Lease Value

$21,910,683.25

Net Landlord Cash Flow$2,191,068.33