Brooklyn Defender Services Signs 31-Year Lease For 212,000 Square Feet At 422 Fulton Street
422 Fulton Mall
Building Size
212,000 SF
Asset Type
Office
Closing
Jun 2, 2026
AI
The asset involved in the lease transaction is an office space located at 422 Fulton Street in Brooklyn, encompassing a total of 212,000 square feet. The property will serve as the new headquarters for Brooklyn Defender Services, consolidating multiple employee locations into one central site scheduled to open in late 2026.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 422 Fulton Street
- Market: Brooklyn
- Lease Duration: 31 years
- Landlord: Rob Speyer - Tishman Speyer
- Tenant: Brooklyn Defender Services
- Landlord's Representatives: Megan Sheehan - Tishman Speyer; Mary Ann Tighe, Joseph Cirone, Masha Dudelzak, Zachary Price & Gerry Miovski - CBRE
- Tenant's Representatives: Jonathan Franzel & Ryan Gessin - Newmark
The lease arrangement was facilitated by a team of professionals from both Tishman Speyer and CBRE representing the landlord, as well as Newmark representing Brooklyn Defender Services. This extensive collaboration highlights the expertise involved in structuring such a long-term lease agreement.
Players
Brooklyn 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