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One Willoughby Square

Off-Market

420 Albee Square, Brooklyn, NY 11201

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  • Property Type Office - General Office
  • Property Size 500,000 Sqft
  • Lot Size 0.43 Acre
  • Parking Spaces Avail. 550
  • Parking Ratio 1.10/ 1,000 SF
  • Property Tenancy Multi-Tenant
  • LEED Proposed Certified Silver
  • Building Class A+
  • Year Built 2021

Location

  • City Brooklyn, NY
  • Neighborhood Downtown Brooklyn
  • Zip Code 11201
  • Market Brooklyn

Contacts

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Owner

  • True Owner
  • Registered Owner

Tenants

Suite Name Tenant Leased
Space		 Rent Price Lease
Type		 Space
Type		 Lease Term
370 17th Street #5500 MERRILL, (303) 446-5500 23,824 SF $23/SF/YR Modified
Gross		 General
Office		 11/01/2014-
N/A
370 17th Street
#6000		 Morrison & Foerster,
(303) 592-1500		 10,710 SF $26/SF/YR Full
Service		 General
Office		 08/01/2013-
07/31/2023
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Documents

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Sales

  • Arm's Length
  • Buyer Name

Mortgages

  • Current Lender
  • Loan Amount
  • Loan Origination Date

Market Trends

Average Actual Rents in Brooklyn

Average rents use actual signed leases, aggregated for your specific search area and asset type with Yardi Market Insight. Be confident your price is competitive, with CommercialEdge.

Current Average Rent
Net Rent
$44.3/SF/YR
Recoverables Show detailsHide details
$16.7/SF/YR
CAM
$3.54/SF/YR
Insurance
$0.59/SF/YR
Taxes
$9.52/SF/YR
Utilities
$1.76/SF/YR
Management Fees
$1.3/SF/YR
Total Rent
$61/SF/YR
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Occupancy & Leasing Activity
Occupancy
83.5%
Lease Spread
-20.5%
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Asking Rents in Brooklyn Office Market

Office rental rates are based on aggregated data of asking rates.

  • 2020 Avg. Asking Rent $51.42
  • 2020 Office Vacancy Rate 13.25 %
  • 2020 Office Completions (Sqft) 1,135,429

Brooklyn Office Sales Trends

All sale prices are based on publicly recorded, verified sales.

  • 2020 Avg. Price per Sqft $320.11
  • Y-o-Y Avg. PpSF Change -21.62 %
  • 2020 Office Sales Volume $533.4M
  • 2020 Number of Transactions 8
View more Brooklyn market trends

Tax

  • Property Tax in 2021-2022 $103,774
  • Market Value $2,207,000
  • Assessed Value $2,207,000

Find more tax info, including assessment history and abatements, on CommercialEdge