Sciame Construction Renews 20-Year Lease At 14 Wall Street In Financial District With Alexander Rovt
14 Wall Street
Building Size
37,206 SF
Asset Type
Office
Closing
Dec 16, 2024
AI
The property involved in this transaction is an office space located at 14 Wall Street in the Financial District, featuring a total square footage of 37,206. The tenant is renewing their lease for a duration of 20 years, continuing to operate from this location.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 14 Wall Street
- Market: Financial District
- Landlord: Alexander Rovt
- Tenant: Frank Sciame - Sciame Construction
- Brokers: Adam Foster, Bradley Gerla, Christopher W. Mansfield, Jonathan Cope, Masha Dudelzak, Matthew Bergey, Michael Rizzo & Ryan Luck - CBRE
This transaction involved significant representation by CBRE, which acted on behalf of both the tenant, Frank Sciame of Sciame Construction, and the landlord, Alexander Rovt. The lease renewal ensures that Sciame Construction maintains its strategic presence in the Financial District as part of their long-term operational planning.
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