Catholic Charities Of New York Signs 30-Year Lease For 77,130 SF Office At 80 Maiden Lane
80 Maiden Lane
Building Size
77,000 SF
Asset Type
Office
Closing
Sep 24, 2024
AI
The property asset involved in this transaction is located at 80 Maiden Lane in the Financial District. It encompasses an office space totaling 77,130 square feet. This lease marks an expansion for Catholic Charities of New York as they consolidate other offices. The transaction is significant within the context of the local real estate market.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 80 Maiden Lane
- Market: Financial District
- Landlord: Jeffrey Kaplan - Meadow Partners
- Tenant: Catholic Charities of New York
- Lease Term: 30-year
- Landlord's Representative: Gerry Miovski, Jonathan Cope, Masha Dudelzak, Neil King & Paul Amrich - CBRE
- Tenant's Representative: Gregory Wang, Hannah Bernstein, Kristen Morgan & Matthew Astrachan - JLL
The deal is represented by a team from CBRE serving the landlord and a team from JLL representing the tenant. The involvement of these brokerage firms highlights the collaborative efforts of professionals in the leasing process, ensuring a successful transaction for both parties.
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