Energy Capital Partners Signs 11-Year Lease At One World Trade Center
285 Fulton Street
Building Size
15,400 SF
Asset Type
Office
Closing
Nov 8, 2023
AI
Energy Capital Partners (ECP) has signed an 11-year lease for 15,400 square feet at 1 World Trade Center in Lower Manhattan. This lease agreement more than doubles their current space in the building. The property is owned by Eric Engelhardt and Karen Rose of Durst Organization and the Port Authority of New York and New Jersey.
Summary of transaction details
- Property Type: Office
- Transaction Amount: Not available
- Address: 285 Fulton Street - One World Trade Center
- Market: Lower Manhattan
- Square Footage: 15,400
The lease transaction was facilitated by the real estate agency Newmark. Corey Borg, David Falk, Eric Zemachson, Hal D. Stein, Jason Greenstein, Nathan Kropp, and Peter Shimkin from Newmark represented ECP in the deal.
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