Emmet, Marvin & Martin Leases Office Space At 2 Pine Street, New York
2 Pine Street, New York, NY, 10005
Building Size
53,000 SF
Asset Type
Office
Closing
Sep 13, 2018
AI
Located at 2 Pine Street, New York, NY, 10005, the property is an office asset spanning 53,000 square feet. The lease was finalized on September 13, 2018, in the bustling New York market. The tenant, Emmet, Marvin & Martin, sought representation from Michael Norris and Robert Lowe of Cushman & Wakefield, while the landlord was Silverstein Properties.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not provided
- Address: 2 Pine Street, New York, NY, 10005
- Market: New York
- Tenant's Reps: Michael Norris (Cushman & Wakefield), Robert Lowe (Cushman & Wakefield)
- Tenant: Emmet, Marvin & Martin
- Landlord: Silverstein Properties
- Square Feet: 53,000
Notable figures involved in the deal include Michael Norris and Robert Lowe from Cushman & Wakefield, guiding Emmet, Marvin & Martin through the lease agreement with Silverstein Properties. The transaction underscores the collaborative effort between the Tenant's Reps and the prestigious landlord in securing the office space.
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