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555 Greenwich Street

Hines Expands With 12-Year Lease At 555 Greenwich St Hudson Square
LEASEDOffice

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

Paul Amrich

CBRE

Broker

37 deals

Broker

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