Blue Panda Office Spaces Leases 10,000 Square Feet At 134 Broadway In Williamsburg
134 Broadway
$55
$55/SF
Building Size
10,000 SF
Asset Type
Office
Closing
Feb 4, 2025
AI
The property asset involved in this transaction is an office space located at 134 Broadway in Williamsburg, Brooklyn. The lease was signed for a term of 10 years for a space encompassing 10,000 square feet. The asking rent is set at $55 per square foot.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $55/ft
- Lease Term: 10 years
- Address: 134 Broadway
- Market: Williamsburg, Brooklyn
- Landlord: Kevin Nassimi & Mike Nassimi - Nassimi Realty
- Tenant: Blue Panda Office Spaces
- Landlord's Rep: William Grover & Ryan Gessin - Newmark
- Tenant's Rep: Harrison Balisky - Olmsted Real Estate
This lease marks a significant expansion for Blue Panda Office Spaces, as it becomes their fifth location in North Brooklyn, specifically aimed at servicing health care clients. The representatives involved in facilitating this agreement include William Grover and Ryan Gessin from Newmark, working on behalf of the landlords, and Harrison Balisky from Olmsted Real Estate, representing the tenant.
Players
Brooklyn 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
288418.18%
Cash-on-Cash
-82430.80%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93