Intradeco Apparel Subleases Office Space At 1370 Broadway In Midtown Manhattan With Watson
1370 Broadway
$45
$45/SF
Building Size
9,215 SF
Asset Type
Office
Closing
Jan 22, 2024
AI
The office property located at 1370 Broadway in Midtown Manhattan has been leased. The lease transaction was completed on 01/22/2024.
Summary of transaction details:
- Property Type: Office
- Address: 1370 Broadway
- Market: Midtown Manhattan
- Sublandlord: Intradeco Apparel
- Subtenant: Watson
- Sublandlord's Representative: Matthew Feigen - Cresa
- Subtenant's Representatives: Wayne Siegel & Raymond Balassiano - LSL Advisors
- Asking Rent: $45/ft
- Square Footage: 9,215
- Lease Type: Modified Gross Lease
Matthew Feigen of Cresa represented the sublandlord, Intradeco Apparel, in this lease transaction. Wayne Siegel and Raymond Balassiano of LSL Advisors represented the subtenant, Watson. The lease agreement was a modified gross lease, with an asking rent of $45 per square foot for the 9,215 square feet of office space at 1370 Broadway.
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
352511.11%
Cash-on-Cash
-100748.76%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93