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1450 Broadway, New York, NY...

Newport Apparel Corp Leases Office Space At 1450 Broadway, New York
LEASEDOffice

Newport Apparel Corp Leases Office Space At 1450 Broadway, New York

1450 Broadway, New York, NY, 10018

Building Size

4,738 SF

Asset Type

Office

Closing

Feb 13, 2019

AI

1450 Broadway in New York, NY, 10018 is a Class A office building owned by The Zar Group. The building spans 400,010 square feet, and in a recent lease transaction, Newport Apparel Corp secured 4,738 square feet within the property.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not provided
  • Tenant: Newport Apparel Corp
  • Landlord: The Zar Group
  • Square Feet: 4738
  • Tenant's Rep: Marc Kritzer(Kritzer Realty)

JLL played a significant role in the lease transactions at 1450 Broadway, representing The Zar Group in all nine deals totaling 107,953 square feet. Mitchell Konsker, Barbara Winter, Simon Landmann, and Kip Orban from JLL partnered closely with Bobby Zar and Michael Gleicher from The Zar Group to facilitate the leasing activity.

Players

Marc Kritzer

Kritzer Realty

Broker

3 deals

Broker

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