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1400 Broadway, New York, NY...

Coyne PR Leases 1350 Square Feet At 1400 Broadway New York From Empire State Realty Trust
LEASEDOffice

Coyne PR Leases 1350 Square Feet At 1400 Broadway New York From Empire State Realty Trust

1400 Broadway, New York, NY, 10018

Building Size

1,350 SF

Asset Type

Office

Closing

Dec 8, 2015

AI

The property involved in this transaction is a duplex office penthouse located at 1400 Broadway, New York, NY, 10018, within the New York market. The tenant, Coyne PR, signed a lease for a total area of 1,350 square feet.

Summary of transaction details:

  • Property Type: Lease
  • Transaction Amount: Not specified
  • Address: 1400 Broadway, New York, NY, 10018
  • Market: New York
  • Tenant: Coyne PR
  • Landlord: Empire State Realty Trust
  • Tenant's Representatives: Andrew Braver, Cushman & Wakefield; David Sherman, Compass
  • Brokers: Josh Kuriloff, Cushman & Wakefield
  • Landlord's Representatives: Keith Cody, Empire State Realty Trust; Scott Klau, Erik Harris, Neil Rubin, Newmark Grubb Knight Frank

In this transaction, the tenant was represented by Andrew Braver from Cushman & Wakefield and David Sherman from Compass. The landlord, Empire State Realty Trust, was represented in-house by Keith Cody, with additional support from Scott Klau, Erik Harris, and Neil Rubin, all of Newmark Grubb Knight Frank.

Players

David Sherman

Compass

Broker

$13.4M

vol

6 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