WorkFusion Leases Office Space At 1450 Broadway In Midtown Manhattan
1450 Broadway, New York City, New York 10018, United States
$79
$79/SF
Building Size
13,327 SF
Asset Type
Office
Closing
Dec 15, 2022
AI
The leased property involved in this closed transaction is an office located at 1450 Broadway in Midtown. The property, spanning 13,327 square feet, was leased by WorkFusion.
Summary of transaction details
- Property Type: Office
- Transaction Date: 12/15/2022
- Market: Midtown
- Asking Rent: $70/ft.
ZG Capital is the landlord of the property, while WorkFusion is the tenant. The leasing process was facilitated by JLL, with Mitchell Konsker, Barbara Winter, Greg Wang, Simon Landmann, Thomas Swartz representing the landlord, and Val Stobetsky, William McGarry, and Michael Pallas representing the tenant.
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
200797.47%
Cash-on-Cash
-57388.53%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93