Hines Expands With 12-Year Lease At 555 Greenwich St Hudson Square
555 Greenwich Street
Building Size
15,000 SF
Asset Type
Office
Closing
May 29, 2024
AI
Located at 555 Greenwich Street in Hudson Square, Manhattan, the office asset involved in the transaction is a 15,000 square foot space. The lease, spanning 12 years, was secured by CBRE's Benjamin Joseph, Howard Fiddle, Neil King, Paul Amrich, and Zachary Price, representing both the tenant and the landlord consortium comprising Hines, Trinity Church Wall Street, and Norges Bank Investment Management.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 555 Greenwich Street
- Market: Hudson Square
- Lease Term: 12 years
The deal at 555 Greenwich Street was facilitated by CBRE's team, including Paul Amrich, Howard Fiddle, Neil King, Zachary Price, and Ben Joseph. Hines, Trinity Church Wall Street, and Norges Bank Investment Management were among the entities involved in the transaction, signifying a significant expansion for Hines in the Hudson Square area of Manhattan.
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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93