Champion Elevator Corp. Leases 5422 Square Feet At 1450 Broadway New York From ZG Capital Partners
1450 Broadway, New York, NY, 10018
Building Size
5,422 SF
Asset Type
Office
Closing
May 7, 2021
AI
The property involved in the lease transaction is located at 1450 Broadway, New York, NY, 10018. This asset has a total square footage of 5,422 and is situated within the New York market.
Summary of transaction details:
- Property Type: Lease
- Transaction Amount: Not disclosed
- Address: 1450 Broadway, New York, NY, 10018
- Market: New York
- Tenant: Champion Elevator Corp.
- Landlord: ZG Capital Partners
- Tenant's Representative: Joseph Grotto (Cushman & Wakefield)
This transaction highlights the collaboration between various parties, specifically with Joseph Grotto representing Champion Elevator Corp. through Cushman & Wakefield, while ZG Capital Partners acts as the landlord. The specific terms and conditions of the lease negotiation are not detailed in the context.
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