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156 William St

Address

156 William Street, New York, NY

Square Feet

180,000 SF/ 7 Stories

Date Sold

Fall 2005

Submarket

Financial District, Manhattan

Acquired

2000

Property Overview

156 William Street is a 180,000 SF, 7-story, Class B office building located in Manhattan’s Insurance District. The property represented C&K’s first major office building purchase.

Investment Strategy

C&K recognized the opportunity to purchase a partially tenanted Class B office building that was not managed to its utmost potential. Following its purchase, C&K immediately instituted a full recapitalization of the building’s financial structure. C&K also added value through high quality asset management, tackling the building’s operating cost structure, reducing energy costs and making high return capital investments. After leasing up the building’s remaining vacant space and enjoying many years of above average yields, C&K sold the building in 2005 for a significant profit.

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