facebook

traded

+ Submit
Home

/

Deals

/

New York

/

Office

/

Lease

/

55 Water St, New York, NY, ...

Teachers’ Retirement System Of The City Of New York Leases 191138 SF At 55 Water St New York
LEASEDOffice

Teachers’ Retirement System Of The City Of New York Leases 191138 SF At 55 Water St New York

55 Water St, New York, NY, 10041

$58

$58/SF

Building Size

191,138 SF

Asset Type

Office

Closing

Dec 7, 2015

AI

The lease involves a transaction for office space located at 55 Water St, New York, NY, 10041, within the New York market. The tenant, Teachers’ Retirement System of the City of New York, will occupy a total area of 191,138 square feet at a rental rate of $58 per square foot.

Summary of transaction details:

  • Property Type: Lease
  • Transaction Amount: Not specified
  • Address: 55 Water St, New York, NY, 10041
  • Market: New York
  • Square Feet: 191,138
  • Rent/SF: $58
  • Tenant: Teachers’ Retirement System of the City of New York
  • Landlord: New Water Street Corp.
  • Tenant's Representative: Kurt Handschumacher - Savills Studley
  • Landlord's Representative: David Caperna - Brookfield
  • Brokers: Marc Shapses, Ira Schuman - Savills

Key individuals involved in this lease transaction include Kurt Handschumacher from Savills Studley, representing the tenant, and David Caperna from Brookfield, representing the landlord. The brokers for the deal are Marc Shapses and Ira Schuman, both affiliated with Savills.

Players

Ira Schuman

Savills

Broker

$78.7M

vol

9 deals

Broker
NC
New Water Street Corp.Landlord

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

273500.00%

Cash-on-Cash

-78167.14%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93