The Real Deal New York

Unilever snags two floors atop Tribeca’s 99 Hudson Street

Agreed-upon rent hits pricey $78 per square foot
April 23, 2014 06:20PM

Anglo-Dutch multinational consumer goods company Unilver has inked a deal for 30,000 square feet in JCM Holding’s 99 Hudson Street in Tribeca.

The firm’s spread takes up the 16-story building’s top two floors, Crain’s reported. The space includes an outdoor roof deck, and the asking rent was $78 per square foot — one of the highest rates paid in the area.

Cushman & Wakefield’s Alex Cohen represented Unilever in the deal, while a CBRE team led by Paul Amrich represented JCM.

JCM purchased the top three floors at 99 Hudson Street for roughly $18.5 million, formerly owned by the NAACP Legal Defense and Educational Fund. [Crain’s]Julie Strickland

  • Someonegotburned

    ok they paid $18.5 for 45k psf or $411 psf. The $78 netted for op/txes would be $58. Take out Paul’s fee of $3 psf and free rent of $4 gets you to $51psf. 51/411 is a stabilized 13%. NIce. Their $414 is now $1275 psf or the investment is worth $57MM. These guys just made $40MM! I love the USA. The guy at NAACP who sold it should be fired. The NAACP could have used money like this.

  • noclist

    I guess they miss the old days at Lever House. The New Jersey campus isn’t quite the same thing.