Cutie Pie Signs 10-Year Sublease For 10,942 SF Office Space At 1400 Broadway In New York With Landlord's Rep Michael Poch & Eric Sears - CBRE And Tenant's Rep Daniel Lolai, Raymond Balassiano & Wayne Siegel - LSL Advisors
1400 Broadway
$59
Building Size
—
Asset Type
Office
Closing
Feb 17, 2023
AI
The office property located at 1400 Broadway in New York City has been leased to Cutie Pie. The lease term is for a sublease of 10 years. The property spans over 10,942 square feet and had an asking rent of $59 per square foot.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 1400 Broadway, New York
- Market: New York City
The landlord in this lease transaction is Empire State Realty Trust. The landlord's representatives in the deal are Michael Poch and Eric Sears from CBRE. Cutie Pie was represented by Daniel Lolai, Raymond Balassiano, and Wayne Siegel from LSL Advisors.
Players
Market 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
268864.41%
Cash-on-Cash
-76842.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93