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255 Greenwich Street

Dr. Gary Gates Of Pearson VUE Leases 11,716 Sq Ft Office At 255 Greenwich Street Manhattan
LEASEDOffice

Dr. Gary Gates Of Pearson VUE Leases 11,716 Sq Ft Office At 255 Greenwich Street Manhattan

255 Greenwich Street

Building Size

11,716 SF

Asset Type

Office

Closing

May 12, 2025

AI

The asset involved in the transaction is an office space located at 255 Greenwich Street in Manhattan. This property encompasses a total area of 11,716 square feet. It is situated in a prime market area known for its significant commercial footprint.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not disclosed
  • Address: 255 Greenwich Street
  • Market: Manhattan
  • Lease Term: 10-year lease
  • Landlord: Jonathan Resnick - Jack Resnick & Sons
  • Tenant: Dr. Gary Gates - Pearson VUE
  • Landlord's Representative: Brett Greenberg & Adam Rappaport - Jack Resnick & Sons
  • Tenant's Representative: Michael McKenna - Cresa

This transaction marks Pearson VUE's first office lease in New York City as the company expands beyond its headquarters in Minnesota. The representation by Brett Greenberg and Adam Rappaport from Jack Resnick & Sons alongside Michael McKenna from Cresa highlights the collaborative effort involved in finalizing this lease agreement.

Players

Michael McKenna

Cresa

Broker

4 deals

Broker

Jonathan Resnick

Jack Resnick & Sons

Landlord

$18M

vol

7 deals

Landlord
Dr. Gary Gates

Dr. Gary Gates

Pearson VUE

Tenant

1 deal

Tenant

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