LEASEDOffice
Seward & Kissel Renews 171,112 Square Foot Office Lease At 24 State Street For 11 Years
24 State Street
Building Size
171,112 SF
Asset Type
Office
Closing
Oct 9, 2026
About this deal
AI
The property involved in this transaction is an office asset located at 24 State Street in Midtown Manhattan. The total square footage is 171,112 square feet, and it is under the management of Rudin Management and Allianz Real Estate.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 24 State Street
- Market: Midtown Manhattan
- Landlord: Michael Rudin & Samantha Rudin Earls - Rudin
- Tenant: Seward & Kissel
- Landlord's Representative: Kevin Daly & Craig Panzirer - Rudin
- Tenant's Representatives: Lewis Miller, Andrew Sussman, Cara Chayet & Scott Sloves - CBRE
- Lease Terms: 11-year lease renewal
This lease renewal sees Seward & Kissel reaffirming their commitment to the space by extending their lease for an additional 11 years, emphasizing the ongoing relationship with the landlord, Rudin and Allianz Real Estate.
On the Map
Office
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Players
SK
Seward & KisselBuyer
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