Lewis Brisbois Bisgaard & Smith Leases 100952 Square Feet At 77 Water St New York
77 Water St, New York, NY, 10005
Building Size
100,952 SF
Asset Type
Office
Closing
Sep 29, 2017
AI
77 Water Street is located in New York, NY, within a prominent market and consists of a total square footage amounting to 100,952 square feet. The property is currently associated with Principal Real Estate Investors and houses tenants in a legal context.
Summary of transaction details:
- Property Type: LEASE
- Transaction Amount: Not specified
- Address: 77 Water St, New York, NY, 10005
- Market: New York
- Tenant: Lewis Brisbois Bisgaard & Smith
- Landlord: Principal Real Estate Investors
- Tenant's Representative: Jonathan Larsen (Avison Young)
- Square Feet: 100,952
The law firm Lewis Brisbois Bisgaard & Smith is entering a new 15-year lease, which will replace their current sublease from Goldman Sachs. The transaction involves an expansion to include the full 18th floor, shifting from their current lease that covers floors 19 through 21 with approximately 75,000 square feet. This new arrangement will take effect when Sage Realty Corporation takes control of the building in April, marking the expiration of Goldman Sachs' master lease.
Players
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