Condé Nast Subleases 48,026 SF Office Space To Kroll In Downtown Manhattan
285 Fulton Street
$59
$59/SF
Building Size
48,026 SF
Asset Type
Office
Closing
May 8, 2024
AI
The property at 285 Fulton Street in Downtown Manhattan is an office space leased by Condé Nast to financial advisory firm Kroll. The 10-year sublease covers 48,026 square feet on the tower's 31st floor, with an asking rent of $59 per square foot.
Summary of transation details:
- Property Type: Office
- Transaction Amount: Not specified
- Landlord: Condé Nast
- Tenant: Kroll
- Address: 285 Fulton Street
- Market: Downtown Manhattan
- Asking Rent: $59/ft
- SF: 48,026
- Lease Term: 10-year sublease
The deal's key individuals involved in this transaction include Jessica Berkey, Joseph Messina, Matthew Rosen, and Peter Riguardi representing the landlord, Condé Nast, from JLL. On the tenant's side, Alexis Odgers, Martin Cottingham, and Michael Gottlieb from Avison Young acted as the tenant's representatives for Kroll.
Players
New York 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
268864.41%
Cash-on-Cash
-76842.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93