Whitten Morris & La Sirena Events Lease Office Space In Williamsburg, Brooklyn
25 Kent Avenue
$75
$75/SF
Building Size
23,000 SF
Asset Type
Office
Closing
Jun 1, 2024
AI
25 Kent Avenue, located in Williamsburg, Brooklyn, was leased for a 15-year term. The office property, spanning 23,000 square feet, was leased under a Modified Gross Lease agreement with an asking rent of $75 per square foot.
Summary of transation details:
- Property Type: Office
- Transaction Amount: Not specified
- LANDLORD: Rubenstein Partners
- TENANT: La Sirena Events D.B.A. Vesper
- LANDLORD'S REP: Whitten Morris - JLL
- TENANT'S REP: Sam Seiler & Joseph Sipala - JLL
The deal involved prominent figures such as David Rubenstein, who represented Rubenstein Partners as the landlord. On the tenant side, La Sirena Events D.B.A. Vesper was represented by Sam Seiler and Joseph Sipala from JLL.
Players
Brooklyn 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
211506.67%
Cash-on-Cash
-60449.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93