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1385 Broadway

David Sandman Of New York Health Foundation Renews 15-Year Lease At 1385 Broadway In Midtown Manhattan
LEASEDOffice

David Sandman Of New York Health Foundation Renews 15-Year Lease At 1385 Broadway In Midtown Manhattan

1385 Broadway

Building Size

17,000 SF

Asset Type

Office

Closing

May 6, 2025

AI

The office asset located at 1385 Broadway in Midtown Manhattan features a total square footage of 17,000. The property has been a long-term occupant for the New York Health Foundation.

Summary of transaction details:

The New York Health Foundation has renewed its lease at the property, having occupied the entire 23rd floor since 2010, indicating a stable and ongoing commitment to this location.

Players

Brian Waterman

Newmark

Broker

$300.4M

vol

30 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