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1400 Broadway, New York, NY...

Empire State Realty Trust Leases 1400 Broadway Office To Interpublic Group
LEASEDOffice

Empire State Realty Trust Leases 1400 Broadway Office To Interpublic Group

1400 Broadway, New York, NY, 10018

Building Size

15,086 SF

Asset Type

Office

Closing

Dec 4, 2019

AI

The office property located at 1400 Broadway, New York, NY, 10018, with a square footage of 15086, was leased in a transaction dated 12/04/2019. The landlord, Empire State Realty Trust, finalized the lease agreement with the tenant, Interpublic Group of Companies. The tenant was represented by Robert Romano and Shannon Rzeznikiewicz from JLL, with Shannon Rzeznikiewicz also acting as the tenant's sole broker in the deal.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not Applicable
  • Tenant's Reps: Robert Romano(JLL), Shannon Rzeznikiewicz(JLL)
  • Brokers: Shannon Rzeznikiewicz(JLL)

The transaction involved the leasing of an office space in New York at 1400 Broadway. The key individuals in the deal included Robert Romano and Shannon Rzeznikiewicz, who represented the tenant, Interpublic Group of Companies. Additionally, Shannon Rzeznikiewicz served as the exclusive broker for the tenant in this transaction.

Players

Robert Romano

JLL

Broker

3 deals

Broker
Empire State Realty Trust
Empire State Realty TrustLandlord

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