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25 Kent Avenue

Whitten Morris & La Sirena Events Lease Office Space In Williamsburg, Brooklyn
LEASEDOffice

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:

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

Sam Seiler

CBRE

Broker

$270M

vol

6 deals

Broker
Joseph Sipala
Verified Badge

Joseph Sipala

JLL

Broker

8 deals

Broker

Brooklyn 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

211506.67%

Cash-on-Cash

-60449.25%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93