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74 Sands St, New York, NY, ...

Spaces Leases 61539 Square Feet At 74 Sands St Brooklyn From Normandy Real Estate Partners
LEASEDOffice

Spaces Leases 61539 Square Feet At 74 Sands St Brooklyn From Normandy Real Estate Partners

74 Sands St, New York, NY, 11201

Building Size

61,539 SF

Asset Type

Office

Closing

Nov 20, 2023

AI

The property involved in this transaction is located at 74 Sands St, New York, NY, 11201, within the Brooklyn market. The leased space encompasses 61,539 square feet. The landlord for this property is Normandy Real Estate Partners, and the tenant is Spaces.

Summary of transaction details:

  • Property Type: Lease
  • Transaction Amount: Not specified
  • Address: 74 Sands St, New York, NY, 11201
  • Market: Brooklyn
  • Square Feet: 61,539
  • Landlord: Normandy Real Estate Partners
  • Tenant: Spaces
  • Landlord's Rep: Jeffrey Fischer & Jeff Fischer - CBRE
  • Broker: Mark Ravesloot - CBRE

This transaction showcases the collaborative efforts of key individuals, including brokers Jeffrey Fischer, Jeff Fischer, and Mark Ravesloot, all associated with CBRE. Their roles facilitated the leasing process between Normandy Real Estate Partners and the tenant, Spaces.

Players

Mark Ravesloot

CBRE

Broker

6 deals

Broker
Normandy Real Estate Partners
Normandy Real Estate PartnersLandlord

Brooklyn 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