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1400 Broadway, New York, NY...

Signature Bank Leases Office Space At 1400 Broadway, New York
LEASEDOffice

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

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.

Players

Michael Cohen

Newmark

Broker

13 deals

Broker
Empire State Realty Trust
Empire State Realty TrustBrokerage
Signature Bank
Signature BankLender
Empire State Realty Trust
Empire State Realty TrustLandlord
Signature Bank
Signature BankTenant

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