Empire State Realty Trust Leases Office Space In Garment District To Calzedonia, Converge Technology Solutions, And BMR Energy
1359 Broadway, New York City, New York 10018, United States
Building Size
19,406 SF
Asset Type
Office
Closing
May 4, 2022
AI
1359 Broadway, located in the Garment District, has recently been leased. The property, which consists of office space, has a total square footage of 19,406. The deal was brokered by JLL, representing the tenant Calzedonia, Converge Technology Solutions, and BMR Energy, and George Comfort & Sons, representing the tenant. The landlord, Empire State Realty Trust, was represented by ESRT and CBRE.
Summary of transation details
- Property Type: Office
- Transaction Amount: N/A
- Landlord: Empire State Realty Trust - Thomas Durels
- Tenant: Calzedonia, Converge Technology Solutions & BMR Energy
- Tenant's Rep: Val Stobetsky & Calum Waddell - JLL, Dana Pike - George Comfort & Sons
- Landlord's Rep: Jordan Berger & Shanae Ursini - ESRT, Paul Amrich, Neil King, Emily Chabrier & Meghan Allen - CBRE
- Asking Rent: $60/ft.
With the recent lease of 1359 Broadway, key individuals and companies involved in the deal include Val Stobetsky and Calum Waddell from JLL, representing the tenants. Dana Pike from George Comfort & Sons also acted as a tenant's representative. Jordan Berger and Shanae Ursini from ESRT, as well as Paul Amrich, Neil King, Emily Chabrier, and Meghan Allen from CBRE, were the landlord's representatives in the transaction.
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