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100 Sutton St, New York, NY...

Ready Set Leases 15k SF Office Space In Brooklyn For $25/SF
LEASEDOffice

Ready Set Leases 15k SF Office Space In Brooklyn For $25/SF

100 Sutton St, New York, NY, 11222

Building Size

15,000 SF

Asset Type

Office

Closing

Mar 15, 2016

AI

The property asset involved in the context is an office space located at 100 Sutton St, New York, NY, 11222, within the Brooklyn market. It encompasses 15,000 square feet. The leasing transaction was initiated at an asking rent of $25 per square foot.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $25/SF
  • Lease Date: 03/15/2016
  • Tenant: Ready Set
  • Landlord: Richfield Properties
  • Landlord's Representative: Neil Dolgin

In this transaction, the set design firm Ready Set secured a 10-year lease agreement. Neil Dolgin from Kalmon Dolgin Affiliates represented both the landlord Richfield Properties and the tenant Ready Set in the deal.

Players

Neil Dolgin

Broker

$4.2M

vol

4 deals

Broker

Brooklyn 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