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1375 Broadway, New York, NY...

Crossix Leases 28000 Square Feet At 1375 Broadway New York Represented By Brian Neugeboren
LEASEDOffice

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

Alex Lapidus Okin

Cushman & Wakefield

Broker

$7.8B

vol

29 deals

Broker
Westbrook Partners
Westbrook PartnersLender
Westbrook Partners
Westbrook PartnersLandlord

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