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1333 Broadway

Empire State Realty Trust Leases Office Space To Ground Up International In Midtown Manhattan
LEASEDOffice

Empire State Realty Trust Leases Office Space To Ground Up International In Midtown Manhattan

1333 Broadway

$47

$47/SF

Building Size

30,000 SF

Asset Type

Office

Closing

Apr 2, 2024

AI

The office property located at 1333 Broadway in Midtown South, Manhattan, was involved in a lease transaction. The sublandlord, Xcel Brands, leased the space from the landlord, Empire State Realty Trust, to subtenant Ground Up International. The lease type was a Modified Gross Lease, with an asking rent of $47 per square foot for a total of 30,000 square feet.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not provided
  • Address: 1333 Broadway
  • Market: Midtown South, Manhattan
  • Sublandlord: Xcel Brands
  • Landlord: Empire State Realty Trust
  • Subtenant: Ground Up International
  • Brokers: Daniel Lolai & Joel Kubie - LSL Advisors; Marc Kritzer - Elite Mak
  • Asking Rent: $47/ft
  • Lease Type: Modified Gross Lease

The deal was facilitated by brokers Daniel Lolai and Joel Kubie from LSL Advisors, along with Marc Kritzer from Elite Mak. These key individuals played a crucial role in the successful negotiation and completion of the lease transaction at 1333 Broadway.

Players

Daniel Lolai

LSL Advisors

Broker

$211.9M

vol

92 deals

Broker

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

337510.64%

Cash-on-Cash

-96461.58%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93