Rising Ground Leases 29,566 SF Office Space At 1333 Broadway In New York
1333 Broadway New York, New York 10018, USA
Building Size
29,566 SF
Asset Type
Office
Closing
May 5, 2023
AI
Rising Ground has signed a new 30-year lease for a 29,566 square foot space at 1333 Broadway in New York. The lease transaction was facilitated by Empire State Realty Trust, Inc. as the landlord and Cushman & Wakefield as their representatives. Rising Ground will utilize this space as a central location for their dedicated staff of 2,000 to engage with the 25,000 New Yorkers they serve.
Summary of transaction details
- Property Type: Office
- Transaction Amount: N/A
- Address: 1333 Broadway, New York
- Market: New York
- Square Footage: 29,566 SF
The lease deal for the 29,566 square foot space at 1333 Broadway was initiated by Rising Ground, a non-profit organization, in order to establish a centralized location for their operations and engage with the community they serve. The transaction was successfully executed with the assistance of their representatives from OPEN Impact Real Estate. The specific financial details of the lease agreement were not disclosed.
Players
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