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
About this deal
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.
On the Map
$58
$58/SF
Office
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Players
New York 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
273500.00%
Cash-on-Cash
-78167.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93