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1350 Broadway

Equativ Signs 10-Year Lease For 24,503 Sq Ft At 1350 Broadway Manhattan With Tony Malkin As Landlord
LEASEDOffice

Equativ Signs 10-Year Lease For 24,503 Sq Ft At 1350 Broadway Manhattan With Tony Malkin As Landlord

1350 Broadway

Building Size

24,503 SF

Asset Type

Office

Closing

Jul 31, 2024

AI

The property asset involved is located at 1350 Broadway in Manhattan, featuring an office space of 24,503 square feet. The transaction is a lease signed by the tenant for a period of 10 years, allowing them to occupy the premises in a significant urban area known for its amenities and proximity to the tech hub of New York City.

Summary of transaction details:

The deal involves key individuals from various companies, with Tony Malkin representing the landlord's interests through Empire State Realty Trust. Cushman & Wakefield provided representation for the landlord with a team including Daniel Organ, Peter Kerans, Robert Lowe, and Ron Lo Russo. On the tenant's side, the French ad tech firm Equativ was represented by Scott Bogetti, Alex Redlus, and James Wenk from Savills.

Players

Robert Lowe

Cushman & Wakefield

Broker

22 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

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93