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199 Water Street

Updated Sep 2, 2026

Seaport Entertainment Group Renews 10-Year Lease For 36,985 Square Feet In Financial District
LEASEDOffice

Seaport Entertainment Group Renews 10-Year Lease For 36,985 Square Feet In Financial District

199 Water Street

Building Size

—

Asset Type

Office

Closing

Aug 6, 2025

About this deal

AI

The transaction involves a lease at 199 Water Street, situated in the Financial District, specifically an office asset where Seaport Entertainment Group has renewed its lease for a duration of 10 years, covering a space of 36,985 square feet. The tenant has been operating from this location since 2014.

Summary of transaction details:

This lease renewal reflects the ongoing partnership between Seaport Entertainment Group and Jack Resnick & Sons. The landlord's and tenant's representatives were instrumental in facilitating this agreement, highlighting the collaborative efforts within the commercial real estate sector in New York City.

On the Map

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Office

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Players

Gerry Miovski

CBRE

Broker

6 deals

Broker
CBRE
CBREBrokerage
Jonathan Resnick

Jonathan Resnick

Jack Resnick & Sons

Landlord

$18M

vol

7 deals

Landlord
Jack Resnick & Sons
Jack Resnick & SonsLandlord
Seaport Entertainment Group
Seaport Entertainment GroupTenant
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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

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