New York Life Insurance Leases Office Space At 1601 Kings Highway In Midwood, Brooklyn
1601 Kings Highway, Brooklyn, New York 11229, United States
$50
$50/SF
Building Size
14,000 SF
Asset Type
Office
Closing
Nov 22, 2022
AI
New York Life Insurance Company has leased an office space located at 1601 Kings Highway in Midwood, Brooklyn. The property, measuring 14,000 square feet, was leased from Kingsway Realty. The lease transaction was facilitated by brokers Nick Zweig and Whitten Morris from JLL. The asking rent for the space was $50 per square foot.
Summary of transaction details
- Property Type: Office
- Transaction Amount: Lease
- Address: 1601 Kings Highway, Midwood, Brooklyn
- Tenant: New York Life Insurance Company
- Landlord: Kingsway Realty
- Brokers: Nick Zweig & Whitten Morris - JLL
- Asking Rent: $50 per square foot
Nick Zweig and Whitten Morris from JLL represented the tenant, New York Life Insurance Company, in this lease deal.
Players
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
317260.00%
Cash-on-Cash
-90673.88%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93