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24 State Street

Updated Oct 12, 2026

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 asset involved in this transaction is an office space located at 24 State Street in Midtown Manhattan, comprising a total of 171,112 square feet. The lease renewal pertains to the tenant Seward & Kissel, with the lease agreement reaffirmed for a duration of 11 years.

Summary of transaction details:

This transaction features key individuals, including the landlord representatives Kevin Daly and Craig Panzirer from Rudin Management Company, who played a vital role in facilitating the agreement. The tenant was represented by a team from CBRE, comprising Lewis Miller, Andrew Sussman, Cara Chayet, and Scott Sloves, ensuring that Seward & Kissel effectively renewed its lease for the office space.

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Players

Kevin Daly

Rudin Management Company

Broker

5 deals

Broker
SK
Seward & KisselBuyer
Michael Rudin

Michael Rudin

Rudin Management Company

Landlord

$5.7B

vol

31 deals

Landlord
Bilt advertisement

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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

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