Amazon Music Leases Office Space At 25 Kent In Williamsburg
25 Kent Ave, Brooklyn, NY 11249, USA
Building Size
40,000 SF
Asset Type
Other
Closing
Sep 7, 2020
AI
25 Kent, located in the Williamsburg market, was leased on September 8, 2020. The office space encompasses approximately 40,000 square feet, with an asking rent of $70-80 per square foot. The tenants of this property are Amazon Music, a well-known music streaming service. The lease was signed with Rubenstein Partners & Heritage Equity Partners as the landlords. Other notable tenants in the building include Kith, who signed a lease in December 2019 for 58,000 square feet.
Summary of Transaction Details
- Property Type: Office
- Transaction Amount: Not mentioned
- Address: 25 Kent
- Market: Williamsburg
- Asking Rent: $70-80/ft. (Approx.)
- Square Footage: 40,000
- Tenant: Amazon Music
- Landlord: Rubenstein Partners & Heritage Equity Partners
Toby Moskovits, represents Rubenstein Partners & Heritage Equity Partners in this lease deal.
Players
New York Other Market Snapshot
Boundary boundary · Other · 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