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285 Fulton Street

Venerable Leases 11,000 SF At 285 Fulton St, Downtown Manhattan
LEASEDOffice

Venerable Leases 11,000 SF At 285 Fulton St, Downtown Manhattan

285 Fulton Street

Building Size

11,000 SF

Asset Type

Office

Closing

May 7, 2024

AI

The leased property, located at 285 Fulton Street in Downtown Manhattan, spans 11,000 square feet. The landlord, the Durst Organization, finalized a lease agreement with Venerable, an insurance and annuity company, for the office space.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not specified
  • Address: 285 Fulton Street
  • Market: Downtown Manhattan
  • Tenant: Venerable
  • Landlord: Durst Organization
  • Tenant's Rep: Michael (Mike) Mathias - Cushman & Wakefield

The lease deal was facilitated with David Falk, Hal D. Stein, Jason Greenstein, Nathan Kropp, Peter Shimkin from Newmark, Eric Engelhardt from The Durst Organization, and Karen Rose representing the landlord. On the tenant's side, the deal was represented by Michael (Mike) Mathias from Cushman & Wakefield.

Players

Hal D. Stein

Newmark

Broker

12 deals

Broker
David Falk
Verified Badge

David Falk

Newmark

Broker

61 deals

Broker
Durst Organization
Durst OrganizationBrokerage

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