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
New York Office Market Snapshot
Boundary boundary · Office · Lease transactions
Loading comparables…
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