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
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
193451.22%
Cash-on-Cash
-55288.95%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93