Constangy Brooks Smith & Prophete Leases Office In Brooklyn From Normandy Real Estate
74 Sands St, New York, NY, 11201
Building Size
5,315 SF
Asset Type
Office
Closing
Oct 26, 2021
AI
The office property located at 74 Sands St, New York, NY, 11201, in Brooklyn, comprising 5,315 square feet, was leased on October 26, 2021. The tenant, Constangy Brooks Smith & Prophete, was represented by Michael "Mike" Peguero, while the landlord, Normandy Real Estate Partners, was represented by Neil V. King III of CBRE.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not Applicable
- Tenant: Constangy Brooks Smith & Prophete
- Tenant's Representative: Michael "Mike" Peguero
- Landlord: Normandy Real Estate Partners
- Landlord's Representative: Neil V. King III (CBRE)
- Address: 74 Sands St, New York, NY, 11201
- Market: Brooklyn
- Square Feet: 5,315
The lease transaction for the office space at 74 Sands St involved the legal firm Constangy Brooks Smith & Prophete as the tenant, with proficient representation from Michael "Mike" Peguero. On the other side, the landlord, Normandy Real Estate Partners, had Neil V. King III from CBRE locking in the deal on their behalf.
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