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25 Chapel St Brooklyn, Ny 1...

New York City Human Resources Administration Renews Lease For Office Space At 25 Chapel Street In Downtown Brooklyn
LEASEDOffice

New York City Human Resources Administration Renews Lease For Office Space At 25 Chapel Street In Downtown Brooklyn

25 Chapel St Brooklyn, Ny 11201, Usa

$43

$43/SF

Building Size

9,199 SF

Asset Type

Office

Closing

Aug 16, 2023

AI

The New York City Human Resources Administration (HRA) has renewed a 9,199-square-foot space at 25 Chapel Street in Downtown Brooklyn for its veterans' benefits center for five years, extending through September 2027. The office space is leased from 40 Flatbush Realty Associates, represented by Joseph Jemal of ISJ Management. The asking rent for the property is $43 per square foot. Located in Downtown Brooklyn, the property is well-positioned in a bustling market.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: N/A
  • Square Footage: 9,199
  • Address: 25 Chapel Street
  • Market: Downtown Brooklyn

The deal was facilitated between the New York City Human Resources Administration and 40 Flatbush Realty Associates, with the landlord's representative being Joseph Jemal from ISJ Management. The lease agreement ensures that the veterans' benefits center will continue to operate at 25 Chapel Street until September 2027. This renewal affirms the commitment of the HRA to serving the needs of veterans in the Brooklyn area, providing them with crucial resources and support.

Players

4A
40 Flatbush Realty AssociatesLandlord

Brisbane 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

368906.98%

Cash-on-Cash

-105434.75%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93