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1235 Broadway, NoMad, New Y...

PM Legal Leases 8,000 SF Office Space At 1235 Broadway In NoMad With Tenant's Rep Joe Perlson
LEASEDOffice

PM Legal Leases 8,000 SF Office Space At 1235 Broadway In NoMad With Tenant's Rep Joe Perlson

1235 Broadway, NoMad, New York, NY, USA

Building Size

8,000 SF

Asset Type

Office

Closing

Jul 1, 2020

AI

An office space located at 1235 Broadway in the NoMad market area has recently been leased. The transaction took place on July 1, 2021. The property, spanning 8,000 square feet, was leased by PM Legal. The landlord, Adam Justin of Justin Management, facilitated the deal. Joe Perlson, representing NomadGroup.io, acted as PM Legal's representative in the transaction. The asking rent for the office space was $50 per square foot.

Summary of transation details

  • Property Type: Office
  • Transaction Amount: Not applicable
  • Address: 1235 Broadway
  • Market: NoMad

The lease of the office space at 1235 Broadway was facilitated by Adam Justin of Justin Management, who represented the landlord in the transaction. Joe Perlson, from NomadGroup.io, served as the representative for PM Legal. The deal was completed with an asking rent of $50 per square foot.

Players

Joe Perlson

Broker

1 deal

Broker
Adam Justin

Adam Justin

Justin Management

Landlord

$4M

vol

5 deals

Landlord

New York 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