Thelab Leases 42452 Square Feet At 74 Sands St Brooklyn With Normandy Real Estate Partners
74 Sands St, New York, NY, 11201
Building Size
42,452 SF
Asset Type
Office
Closing
Sep 20, 2019
About this deal
AI
The property involved in this transaction is located at 74 Sands St, New York, NY, 11201, in the Brooklyn market. The total square footage of the asset is 42,452 square feet. This transaction pertains to a lease agreement between Thelab, the tenant, and Normandy Real Estate Partners, the landlord.
Summary of transaction details:
- Property Type: Lease
- Transaction Amount: Not specified
- Address: 74 Sands St, New York, NY, 11201
- Market: Brooklyn
- Tenant: Thelab
- Landlord: Normandy Real Estate Partners
- Square Feet: 42,452
- Tenant's Representatives: Adam Henick (Current Real Estate Advisors), Brandon Charnas (Current Real Estate Advisors)
The transaction involved Thelab as the tenant secured by representatives Adam Henick and Brandon Charnas from Current Real Estate Advisors. The landlord for this lease is Normandy Real Estate Partners, facilitating this agreement for the designated property.
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