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233 Broadway, New York, NY,...

Altuzarra Leases 12000 Square Feet At 233 Broadway New York With Witkoff Group As Landlord
LEASEDCommercial

Altuzarra Leases 12000 Square Feet At 233 Broadway New York With Witkoff Group As Landlord

233 Broadway, New York, NY, 10279

$59

$59/SF

Building Size

12,000 SF

Asset Type

Commercial

Closing

Jun 21, 2016

AI

The property asset involved in this transaction is located at 233 Broadway, New York, NY, 10279. This site, known as the Woolworth Building, encompasses a total of 12,000 square feet. The asking rent for the lease was set at $59 per square foot.

Summary of transaction details:

  • Property Type: Lease
  • Transaction Amount: $59/SF
  • Address: 233 Broadway, New York, NY, 10279
  • Market: New York
  • Tenant: Altuzarra
  • Landlord: Witkoff Group
  • Tenant's Representatives: Christopher Foerch (Savills), Daniel Horowitz (Savills)
  • Landlord's Representative: Thomas Hettler (The Lawrence Group)

The tenant Altuzarra, a women's brand, has secured this lease with the assistance of Savills' representatives, Christopher Foerch and Daniel Horowitz. The landlord, represented by Thomas Hettler of The Lawrence Group, is a partnership that includes the Witkoff Group among other investors.

Players

Christopher Foerch

Savills

Broker

9 deals

Broker

New York Commercial Market Snapshot

Boundary boundary · Commercial · Lease transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

268864.41%

Cash-on-Cash

-76842.27%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93