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:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 1385 Broadway
- Market: Midtown Manhattan
- Lease Term: 15 years
- Landlord: Bloomingdale Properties
- Tenant: David Sandman - New York Health Foundation
- Landlord's Representative: Brian Neugeboren, Matthew Savitt & Nicole Goetz - Savitt Partners
- Tenant's Representative: Brett Stein, Brian Waterman, David Berke & Lance Korman - Newmark
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
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