Stok Kon And Braverman Lease 9285 Square Feet At 1 E Broward Blvd Fort Lauderdale
1 E Broward BLVD, Fort Lauderdale, F...
Building Size
9,285 SF
Asset Type
Office
Closing
Jun 13, 2022
AI
The property involved is located at 1 East Broward Boulevard, Fort Lauderdale, encompassing a 19-story building. The lease covers an area of 9,285 square feet. The property was part of a larger investment acquired by a joint venture in 2018 for $108.5 million, which included significant enhancements to the building's lobby, common areas, and security systems.
Summary of transaction details:
- Property Type: Lease
- Transaction Amount: Not specified
- Address: 1 E Broward BLVD, Fort Lauderdale
- Market: Fort Lauderdale
- Square Feet: 9,285
- Landlord: NAI Merin Hunter Codman
- Landlord's Rep: Adam Starr (NAI Merin Hunter Codman)
- Tenant: Stok Kon + Braverman
- Managing Principal: Robert Stok
Neil Merin and Adam Starr represented the landlord in this transaction. The property includes amenities such as a gym with Peloton bikes, 24/7 security, on-site dining, and concierge services. The facility is linked to a garage via an elevated, air-conditioned pedestrian walkway, enhancing accessibility for tenants and visitors.
Players
Fort Lauderdale Office Market Snapshot
Boundary boundary · Office · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93