Federative Republic Of Brazil Leases 65,331 Square Feet Office From SL Green Realty In Midtown Manhattan
220 East 42nd Street
Building Size
65,331 SF
Asset Type
Office
Closing
Nov 25, 2024
AI
The property involved in this transaction is located at 220 East 42nd Street, situated in the Midtown Manhattan market. The asset is an office space with a total area of 65,331 square feet.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 220 East 42nd Street
- Market: Midtown Manhattan
- Landlord: Marc Holliday & Steven Durels - SL Green Realty Corp
- Tenant: Federative Republic of Brazil
- Brokerage: Cushman & Wakefield
- Brokers: Barry Zeller, Harry Blair, Justin Royce, Peter Trivelas, Pierce Hance & Tara Stacom
SL Green Realty Corp secured a lease renewal and expansion with the Federative Republic of Brazil at the News Building, resulting in an increased footprint for the tenant to 65,331 square feet.
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