WeWork Leases Office Space At 115 Broadway, New York For $55/SF
115 Broadway, New York, NY, 10006
Building Size
85,000 SF
Asset Type
Office
Closing
Aug 15, 2017
About this deal
AI
The property at 115 Broadway, New York, NY, 10006 is an office asset with a total square footage of 85,000. The lease was signed on 08/15/2017, with WeWork as the tenant and Capital Properties as the landlord. The agreed rent is $55 per square foot.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not provided
- Tenant: WeWork
- Landlord: Capital Properties
- Tenant's Rep: Michael Schoenbrun (Meridian Capital Group)
Michael Schoenbrun of Meridian Capital Group represented WeWork in the lease transaction at 115 Broadway. WeWork, a well-known co-working space provider, will occupy the 85,000 square feet of office space under the agreement with Capital Properties.
On the Map
Office
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Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
288418.18%
Cash-on-Cash
-82430.80%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93