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199 Water Street

Jack Resnick & Sons Signs 13 Year Lease With Forte Capital Group At 199 Water Street
LEASEDOffice

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:

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

Aron Schreier

Cushman & Wakefield

Broker

5 deals

Broker
Jack Resnick & Sons
Jack Resnick & SonsBrokerage

Jack Resnick

Jack Resnick & Sons

Landlord

12 deals

Landlord

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