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1239 Broadway

Velour Medical Leases 12000 Square Feet At 1239 Broadway In NoMad
LEASEDOffice

Velour Medical Leases 12000 Square Feet At 1239 Broadway In NoMad

1239 Broadway

Building Size

12,000 SF

Asset Type

Office

Closing

Oct 17, 2024

AI

The property asset is an office space located at 1239 Broadway in the NoMad market, encompassing a total of 12,000 square feet. This space is leased to Velour Medical, making it their second clinic in Manhattan.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not specified
  • Address: 1239 Broadway
  • Market: NoMad
  • Landlord: Justin Management
  • Tenant: Dr. Michael Kennis & Zach Goldstein - Velour Medical
  • Broker: Jared Sternberg - Kaufman

The lease was signed for Velour Medical, which will offer Botox, fillers, and other cosmetic procedures at this location. The involved parties include Dr. Michael Kennis and Zach Goldstein, who represent the tenant, while Jared Sternberg serves as the broker in the transaction.

Players

Jared Sternberg

Broker

5 deals

Broker

Brooklyn 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