Uncommon Schools Signs 30-Year Lease For Office Space At 100 Church Street In Downtown Manhattan
100 Church Street
$48
$48/SF
Building Size
27,833 SF
Asset Type
Office
Closing
Feb 1, 2024
AI
Located at 100 Church Street in Downtown Manhattan, this recently closed property transaction involved the lease of an office space. The property was leased by Uncommon Schools, with SL Green acting as the landlord.
Summary of transaction details:
- Property Type: Office
- Address: 100 Church Street
- Market: Downtown Manhattan
- Tenant: Uncommon Schools
- Landlord: SL Green
- Asking Rent: $48/ft
- Lease Term: 30 years
- Lease Type: Modified Gross Lease
- Square Footage: 27,833
The tenant's representatives for this deal were Daniel Lolai, Eric Siegel, Wayne Siegel, and Brian Siegel from LSL Advisors. On the other side, Scott Klau, Daniel Appel, and Hal D. Stein from Newmark represented the landlord, SL Green.
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
330479.17%
Cash-on-Cash
-94451.96%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93