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
New York Office Market Snapshot
Boundary boundary · Office · Lease transactions
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Deal FAQ
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