Royal Bank Of Canada Leases 400000 Square Feet At 200 Vesey St New York From Brookfield Property Partners
200 Vesey St, New York, NY, 10281
Building Size
400,000 SF
Asset Type
Office
Closing
Feb 2, 2017
About this deal
AI
The property at 200 Vesey St, located in New York, NY, is a commercial office space with a total square footage of 400,000. This lease transaction takes place within the competitive New York market and is significant to both tenant and landlord interests.
Summary of transaction details:
- Property Type: Lease
- Transaction Amount: Not specified
- Address: 200 Vesey St, New York, NY, 10281
- Market: New York
- Tenant: Royal Bank of Canada
- Landlord: Brookfield Property Partners
- Tenant's Representative: Bruce Mosler - Cushman & Wakefield
- Lease Renewal Duration: Through at least 2032
The Royal Bank of Canada has renewed its lease at the Brookfield-owned building, highlighting its strategic decision to remain due to proximity to key financial institutions including Goldman Sachs’ HQ tower in Jersey City. The bank's capital markets team operates from a separate 207,000 SF location in Jersey City. Following the renewal, Brookfield Place continues its leasing recovery after a significant departure in 2013.
Players
New York Office Market Snapshot
Boundary boundary · Office · Lease transactions
Loading comparables…
Deal FAQ
Browse New York office leases on Traded.
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