Leases  ·  Office

NYPD Special Victims Division Nails Down Leases in Brooklyn and the Bronx

reprints


The New York City Police Department’s Special Victims Division has finalized a pair of leases for offices in Downtown Brooklyn and the Kingsbridge section of the Bronx, according to the city’s Department of Citywide Administrative Services (DCAS). 

In the larger of the two leases, the NYPD extended its existing 42,179-square-foot lease for the entire 45 Nevins Street for another year, according to DCAS. It will pay a monthly rent of $124,666, or $1.5 million, for the term, according to The City Record.

SEE ALSO: JP Morgan Chase Inks Office Deal in West Palm

The NYPD occupied the Nevins Associates’ three-story building between Schermerhorn and State streets for more than 20 years and previously extended its lease at the property last year.

The second lease was for 17,862 square feet of office space and 6,900 square feet of outdoor parking at 188 West 230th Street in the Bronx. The NYPD will pay an annual rent of $697,008 for the first five years of the 20-year deal, with gradual increases every five years of the lease to $992,418 in annual rent for the 16th through 20th years, according to The City Record. The landlord, ABS Partners Real Estate, will also contribute roughly $589,500 to the NYPD’s buildout of the space.

CBRE represented the NYPD in both leases and declined to comment via a spokesperson. ABSBen Waller was marketing the Bronx property on behalf of the landlord, and it wasn’t clear if Nevins Associates had a broker in its Brooklyn transaction. 

Rebecca Baird-Remba can be reached at rbairdremba@commercialobserver.com.