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14 Wall Street

Sciame Construction Renews 20-Year Lease At 14 Wall Street In Financial District With Alexander Rovt
LEASEDOffice

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:

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

Bradley Gerla

CBRE

Broker

$116.1M

vol

12 deals

Broker

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