Sabrina McCarthy Of Cushman & Wakefield Represents Bloomsbury Publishing In Lease At 1359 Broadway
1359 Broadway
Building Size
24,209 SF
Asset Type
Office
Closing
Oct 24, 2024
AI
An office lease transaction has occurred at 1359 Broadway in Midtown Manhattan, encompassing a total space of 24,209 square feet. The asset is part of the Midtown market and is owned by Empire State Realty Trust.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not disclosed
- Address: 1359 Broadway
- Market: Midtown Manhattan
- Square Footage: 24,209
- Landlord: Thomas Durels - Empire State Realty Trust
- Tenant: Sabrina McCarthy - Bloomsbury Publishing
- Landlord's Representatives: Emily Jones Chabrier, Kelly Tipton, Meghan Allen, Neil King & Paul Amrich - CBRE; Jordan Berger - Empire State Realty Trust
- Tenant's Representatives: Rachel Rosenfeld & Stephen Bellwood - Cushman & Wakefield
This lease marks a relocation for Bloomsbury Publishing, which is moving its U.S. offices just one block from its previous location. The representatives for both the landlord and tenant played crucial roles in facilitating this transaction. The involvement of multiple representatives indicates a comprehensive approach to the negotiation process.
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