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
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