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1245 Broadway, New York, NY...

GDS Development Leases 6500 Square Feet Office Space To GumGum In New York
LEASEDOffice

GDS Development Leases 6500 Square Feet Office Space To GumGum In New York

1245 Broadway, New York, NY, 10001

Building Size

6,500 SF

Asset Type

Office

Closing

Oct 5, 2022

AI

The property asset involved in this transaction is an office space located at 1245 Broadway, New York, NY, 10001. The total square footage of the asset is 6,500 square feet. The current market for this asset is New York.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not specified
  • Address: 1245 Broadway, New York, NY, 10001
  • Square Feet: 6500
  • Tenant: GumGum
  • Landlord: GDS Development
  • Tenant's Representative: Matthew Siegel-CBRE
  • Landlord's Representatives: Neil V. King III-CBRE, Paul Amrich-CBRE

The deal was facilitated by representatives from CBRE, ensuring that both the tenant and landlord were appropriately represented in the transaction. Matthew Siegel represented the tenant GumGum, while the landlord GDS Development was represented by Neil V. King III and Paul Amrich.

Players

Paul Amrich

CBRE

Broker

37 deals

Broker
GD
GDS DevelopmentLandlord

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