facebook

traded

+ Submit
Home

/

Deals

/

New York

/

Office

/

Lease

/

1540 Broadway, New York Cit...

JLL Represents Pandora In 15-Year Lease At 1540 Broadway In Times Square
LEASEDOffice

JLL Represents Pandora In 15-Year Lease At 1540 Broadway In Times Square

1540 Broadway, New York City, New York 10036, United States

$82

$82/SF

Building Size

27,936 SF

Asset Type

Office

Closing

Dec 13, 2022

AI

The office property located at 1540 Broadway in Times Square has been leased on a 15-year lease. The tenant, Pandora, has secured the space from the landlord, HSBC and Edge Fund Advisors, with the representation of JLL brokers Daniel Posy, Peter Michailidis, Robert Gibson, Clark Finney, Frank Doyle, Michael Pallas, and Carlee Palmer. The lease terms include an asking rent of $82 per square foot for a total of 27,936 square feet.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: Not Applicable (lease)
  • Address: 1540 Broadway
  • Market: Times Square

The lease agreement for the office space at 1540 Broadway was facilitated by JLL brokers Daniel Posy, Peter Michailidis, Robert Gibson, Clark Finney, Frank Doyle, Michael Pallas, and Carlee Palmer. Pandora, the tenant, will occupy the 27,936 square feet of office space for a duration of 15 years. The lease transaction was negotiated between the tenant's representatives and the landlord, HSBC and Edge Fund Advisors.

Players

Frank Doyle

JLL

Broker

$538.2M

vol

26 deals

Broker
HSBC
HSBC Lender
HSBC
HSBC Landlord
Pandora
PandoraTenant

New York Office Market Snapshot

Boundary boundary · Office · Lease transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

193451.22%

Cash-on-Cash

-55288.95%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93