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
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