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2 Pine Street, New York, NY...

Emmet, Marvin & Martin Leases Office Space At 2 Pine Street, New York
LEASEDOffice

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:

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

Robert Lowe

Cushman & Wakefield

Broker

22 deals

Broker
Silverstein Properties
Silverstein PropertiesLandlord

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