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
Brisbane Office Market Snapshot
Boundary boundary · Office · Lease transactions
Loading comparables…
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