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
About this deal
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.
On the Map
Office
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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