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55 Washington Street

Isabella Alveberg Of Snøhetta Leases 25,000 Square Feet Office Space At 55 Washington Street Brooklyn
LEASEDOffice

Isabella Alveberg Of Snøhetta Leases 25,000 Square Feet Office Space At 55 Washington Street Brooklyn

55 Washington Street

Building Size

25,000 SF

Asset Type

Office

Closing

Mar 10, 2025

AI

The property asset involved in the transaction is an office space located at 55 Washington Street in Brooklyn, with a total square footage of 25,000. The transaction reflects the growing demand for office spaces in the Dumbo neighborhood, particularly among design firms.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not provided
  • Address: 55 Washington Street
  • Market: Brooklyn
  • Landlord: Jed Walentas - Two Trees Management
  • Tenant: Isabella Alveberg - Snøhetta
  • Landlord's Representative: Alyssa Zahler - Two Trees Management
  • Tenant's Representatives: Aron Schreier & Jason Kroeger - Cushman & Wakefield

This lease represents Snøhetta's relocation of its NYC headquarters from Manhattan’s Financial District to this new space. The presence of other design firms like BIG and Garrison Architects in the area indicates a collaborative environment in Dumbo.

Players

Alyssa Zahler

Broker

7 deals

Broker

Jed Walentas

Two Trees Management

Landlord

$72.8M

vol

8 deals

Landlord

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