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Capco Leases 26,620 SF Office Space In Empire State Building For $87/SF

Property Image
LEASED
$87
Neil Rubin
Jared Horowitz
+ 1

New York

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Office26,620 SF
Leased 07/25/2023
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Property Image
LEASED

Capco Leases 26,620 SF Office Space In Empire State Building For $87/SF

77 Water Street

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Office26,620 SF
Leased 07/25/2023
Neil Rubin
Jared Horowitz
+ 1
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Summary

NEW YORK
Asset Type:Office
Price Per Square Foot:$87
Total Square Footage:26,620 SF
Transaction Type:Lease

The Empire State Building in the Financial District has leased an entire floor comprising 26,620 square feet of office space to Capco, a London-based firm. The lease deal was signed for a 10-year term with an asking rent of $87 per square foot.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: N/A
  • Address: 77 Water Street
  • Market: Financial District

The landlord of the Empire State Building, Shanae Ursini and Jordan Berger of Empire State Realty Trust, facilitated the lease agreement with Capco. The tenant, represented by Mike Ethelston, will relocate from its current office in the Financial District to the Empire State Building. The broker team from Newmark, including Jared Horowitz, Jason Perla, Scott Klau, and Neil Rubin, played a pivotal role in the transaction.

Players

Jared Horowitz
9 deals
BROKER

Scott Klau
Newmark
21 deals
BROKER

Neil Rubin
Newmark
11 deals
BROKER

Jason Perla
Newmark
6 deals$300.4M volume(212) 850-5419
BROKER

Empire State Realty Trust
LANDLORD


Details

LEASED
IMAGE: Neil Rubin, Jason Perla, Jordan Berger, Shanae Ursini, Scott Klau & Jared Horowitz DATE: 07/25/2023 ADDRESS: 77 Water Street MARKET: Financial District ASSET TYPE: Office LANDLORD: Empire State Realty Trust - Shanae Ursini & Jordan Berger TENANT: Capco - Mike Ethelston BROKERS: Jared Horowitz, Jason Perla, Scott Klau & Neil Rubin - Newmark ASKING RENT: $87/ft ~ SF: 26,620 NOTE: Capco has leased an entire floor, comprising 26,620 square feet, in the Empire State Building for a 10-year term. The London-based firm will relocate from its current office in the Financial District, and the lease deal was signed for an asking rent of $87 per square foot.

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Deal Type
Effective Rent (Annual)

$2,654,965.67

Total Lease Value

$26,549,656.65

Net Landlord Cash Flow$2,654,965.67