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1333 Broadway New York, New...

Rising Ground Leases 29,566 SF Office Space At 1333 Broadway In New York
LEASEDOffice

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

Robert Lowe

Cushman & Wakefield

Broker

22 deals

Broker
Empire State Realty Trust
Empire State Realty TrustLandlord

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