Local Initiatives Support Corporation Leases 60,000 SF Office Space In New York
26 Nassau St, New York, NY, 10005
Building Size
60,000 SF
Asset Type
Office
Closing
Jan 25, 2019
AI
The property at 26 Nassau St, New York, NY, 10005 is an office space spanning 60,000 square feet. The lease for this property was finalized on January 25, 2019, in New York. The landlord of this office space is Fosun International, facilitated by Lance Korman from Newmark. The tenant occupying this office is the Local Initiatives Support Corporation.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not Specified
- Address: 26 Nassau St, New York, NY, 10005
- Market: New York
- BROKERS: Lance Korman (Newmark)
- TENANT: Local Initiatives Support Corporation
- LANDLORD: Fosun International
- SQUARE FEET: 60,000
The deal's key individuals involved in this transaction include Lance Korman from Newmark, representing the landlord, Fosun International, and facilitating the lease agreement with the tenant, the Local Initiatives Support Corporation.
Players
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