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
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