The police will be taking 124,226 rentable square feet for 20 years for a warehouse on the first and second floors on Abbot Street in a property that appears to straddle The Bronx and Yonkers. That will cost about $520,000 for the first year while improvements are being made, and then $1,156,250 each year thereafter.
The City Council wants to rent the 14th through 18th floors at 250 Broadway for 20 years, totalling about 113,039 rentable square feet. The rent, which is more complicated then we define here, generally runs $33.05 a foot until work is substantially completed, and then has five-year step-ups to $35.27, $37.49, and $39.71 a foot. That building, bought by Amtrust from Sara Kreek Partners, has lots of vacant space which is being handled by Newmark.
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|Publication:||Real Estate Weekly|
|Date:||Jan 13, 1999|
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