Crossix Leases 28000 Square Feet At 1375 Broadway New York Represented By Brian Neugeboren
1375 Broadway, New York, NY, 10018
Building Size
28,000 SF
Asset Type
Office
Closing
Dec 13, 2016
AI
The property involved in this transaction is a 27-story building located at 1375 Broadway, New York, NY, 10018. The building has a total square footage of 513,000 and is situated in the New York market. Crossix has signed a lease for 28,000 square feet across two floors of this property.
Summary of transaction details:
- Property Type: Lease
- Transaction Amount: Not specified
- Address: 1375 Broadway, New York, NY, 10018
- Square Feet: 28,000
- Tenant: Crossix
- Landlord: Westbrook Partners
- Tenant's Representative: Brian Neugeboren
- Landlord's Representative: Meghan Allen (CBRE)
- Borrower's Representative: Alex Lapidus Okin (Cushman & Wakefield)
Marc Schoen and Brian Neugeboren represented Crossix in this transaction, while the landlord, Westbrook Partners, was represented by a team from CBRE, including Paul Amrich, Neil King, Patrice Meagher, and Meghan Allen. Crossix will be transitioning from their current lease of 18,000 square feet at 1001 Avenue of the Americas to this new location.
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