Jack Resnick & Sons Signs 13 Year Lease With Forte Capital Group At 199 Water Street
199 Water Street
Building Size
13,400 SF
Asset Type
Office
Closing
Feb 25, 2025
AI
The property asset involved in the transaction is an office space located at 199 Water Street in Manhattan, encompassing a total of 13,400 square feet. Jack Resnick & Sons is the landlord for this lease agreement.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not disclosed
- Address: 199 Water Street
- Market: Manhattan
- Landlord: Jack Resnick
- Tenant: Roger Monteforte
- Landlord's Representative: Adam Rappaport & Brett Greenberg from Jack Resnick & Sons; Stephen Bellwood, Ethan Silverstein, John Cefaly & Rachel Rosenfeld from Cushman & Wakefield
- Tenant's Representative: Aron Schreier & Nick Masi from Cushman & Wakefield
- Lease Term: 13 years
This lease was signed between Jack Resnick & Sons and Forte Capital Group, with Cushman & Wakefield representing both the landlord and tenant in the transaction, illustrating a collaborative effort from multiple brokerage representatives in finalizing the deal.
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