LEASEDOffice
Flagstar Bank Assumes Lease At 1400 Broadway In New York City
1400 Broadway New York, New York 10018, USA
Building Size
313,109 SF
Asset Type
Office
Closing
May 23, 2023
About this deal
AI
The lease at 1400 Broadway in New York has been assumed by Flagstar Bank, N.A. The space spans a total of 313,109 square feet and the lease terms will remain the same until 2039.
Summary of transaction details
- Property Type: Office
- Transaction Amount: N/A
- Address: 1400 Broadway, New York
- Market: New York
- SF: 313,109
Flagstar Bank, N.A has taken over the lease at 1400 Broadway. The transaction was facilitated by Empire State Realty Trust, Inc., the landlord of the property.
Players
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