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2880 Broadway, New York, NY...

Columbia University Leases 2800 Square Feet At 2880 Broadway New York With Tenant Representation By Newmark
LEASEDCommercial

Columbia University Leases 2800 Square Feet At 2880 Broadway New York With Tenant Representation By Newmark

2880 Broadway, New York, NY, 10025

Building Size

2,800 SF

Asset Type

Commercial

Closing

Feb 26, 2021

AI

The property involved in this transaction is located at 2880 Broadway, New York, NY, 10025. The market value falls under the New York segment. The transaction pertains to a lease agreement associated with Columbia University as the landlord. The leased space encompasses 2,800 square feet.

Summary of transaction details:

  • Property Type: Lease
  • Transaction Amount: Not specified
  • Address: 2880 Broadway, New York, NY, 10025
  • Landlord: Columbia University
  • Square Feet: 2800
  • Landlord's Rep: Amy Zhen (Cushman & Wakefield)
  • Borrower's Rep: Christopher (Chris) Kramer (Newmark)

This transaction also includes leases signed for two new restaurants at Columbia University. Roberta’s, renowned for its pizza, will be establishing its first standalone location in Manhattan at 2913 Broadway, while Sapp’s is set to open its first Manhattan location at 2888 Broadway, which will feature a full bar. Amy Zhen from Jones Lang LaSalle brokered both deals and collaborated with Lee & Associates for Roberta’s lease.

Players

Christopher Kramer

Newmark

Broker

$23B

vol

115 deals

Broker
CU
Columbia UniversityLandlord

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

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93