Signature Bank Leases Office Space At 1400 Broadway, New York
1400 Broadway, New York, NY, 10018
Building Size
20,691 SF
Asset Type
Office
Closing
Nov 26, 2018
About this deal
AI
The property at 1400 Broadway, New York, NY, 10018, is an office asset with a total of 20,691 square feet. The lease for this property was finalized on November 26, 2018. The tenant, Signature Bank, was represented by Michael Cohen from Newmark, while the landlord, Empire State Realty Trust, was represented by Leslie Nadel of APF Properties. The market for this transaction was New York.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not Applicable
- Tenant: Signature Bank
- Tenant's Rep: Michael Cohen (Newmark)
- Landlord: Empire State Realty Trust
- Landlord's Rep: Leslie Nadel (APF Properties)
- Square Feet: 20,691
In this deal, Michael Cohen of Newmark represented Signature Bank, while Leslie Nadel from APF Properties represented Empire State Realty Trust. The lease transaction involved key individuals and companies in the New York market, emphasizing the collaboration between the tenant and landlord representatives to finalize the agreement.
On the Map
Office
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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