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
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