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
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