facebook

traded

+ Submit
Home

/

Deals

/

New York

/

Office

/

Lease

/

375 Pearl St, New York, NY,...

NYC Department Of Finance Leases 175k SF Office Space At 375 Pearl St
LEASEDOffice

NYC Department Of Finance Leases 175k SF Office Space At 375 Pearl St

375 Pearl St, New York, NY, 10038

Building Size

175,000 SF

Asset Type

Office

Closing

Jan 19, 2016

AI

The former Verizon Building at 375 Pearl St in New York, NY, 10038, witnessed the signing of a 175,000-square-foot lease by the NYC Department of Finance. The landlord, Sabey Data Centers, facilitated this transaction with the help of Zakery Snider from CBRE as their representative.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not provided
  • Market: New York
  • Landlord's Representative: Zakery Snider (CBRE)
  • Landlord: Sabey Data Centers
  • Square Feet: 175,000

The CBRE team, consisting of Gerry Miovski and Gregg Rothkin alongside Zakery Snider, played a pivotal role in representing the landlord, Sabey Data Centers, throughout the leasing process at 375 Pearl St. This lease agreement marks a significant transaction in the New York real estate market, showcasing the collaborative efforts between the NYC Department of Finance and Sabey Data Centers in securing a large office space to cater to their operational needs.

Players

Zakery Snider

CBRE

Broker

2 deals

Broker

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

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93