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55 Water Street

Updated May 12, 2025

Marshall Aronow Of MetTel Expands Office Lease At 55 Water Street To Nearly 69,000 Square Feet
LEASEDOffice

Marshall Aronow Of MetTel Expands Office Lease At 55 Water Street To Nearly 69,000 Square Feet

55 Water Street

Building Size

18,443 SF

Asset Type

Office

Closing

Apr 15, 2025

About this deal

AI

The asset involved in this transaction is located at 55 Water Street in the Financial District. It is an office space encompassing 18,443 square feet, which is part of a larger lease agreement. The landlord is Retirement Systems of Alabama, represented by David Bronner.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not specified
  • Address: 55 Water Street
  • Market: Financial District
  • Total Square Footage: 18,443
  • Landlord: David Bronner - Retirement Systems of Alabama
  • Tenant: Marshall Aronow - MetTel
  • Lease Term: 13 years
  • Total Footprint After Expansion: Nearly 69,000 square feet

The key individuals involved in the transaction include Marshall Aronow, representing MetTel, who has expanded the lease at 55 Water Street. David Bronner, representing the landlord, facilitated this lease agreement, highlighting the ongoing commitment of MetTel to its presence in New York City.

Players

RA
Retirement Systems of AlabamaLandlord

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

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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