Mercor Signs 5-Year Lease For 25,550 Square Feet At One World Trade Center, Manhattan
285 Fulton Street
Building Size
25,550 SF
Asset Type
Office
Closing
Jul 21, 2026
About this deal
AI
The property asset involved in this transaction is located at 285 Fulton Street in Manhattan, comprising an office space of 25,550 square feet. The lease involves a term of five years, with asking rents reported to be in the high-$80s to $90s per square foot. The building is nearing 100% occupancy following this transaction.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 285 Fulton Street
- Market: Manhattan
- Landlord: Douglas Durst & Jody Durst - Durst Organization & Port Authority Of New York & New Jersey
- Tenant: Mercor
- Lease Terms: 5 years
The deal was facilitated by Douglas Durst and Jody Durst, representing the Durst Organization along with the Port Authority Of New York & New Jersey as the landlords. The tenant, an AI staffing and training firm, Mercor, has secured this significant lease at One World Trade Center.
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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