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:
- Property Type: Office
- Transaction Amount: Not specified
- Market: Midtown Manhattan
- Landlord: Michael Rudin & Samantha Rudin Earls - Rudin Management Company
- Tenant: Seward & Kissel
- Landlord's Representative: Kevin Daly & Craig Panzirer - Rudin Management Company
- Tenant's Representative: Lewis Miller, Andrew Sussman, Cara Chayet & Scott Sloves - CBRE
- Lease Terms: 11-year lease renewal
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.
On the Map
Office
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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