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1359 Broadway

Sabrina McCarthy Of Cushman & Wakefield Represents Bloomsbury Publishing In Lease At 1359 Broadway
LEASEDOffice

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:

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

Jordan Berger

Empire State Realty Trust

Broker

15 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