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1631 Broadway, New York, NY...

New Mountain Capital Leases 108000 Square Feet At 1631 Broadway New York From Paramount Group
LEASEDOffice

New Mountain Capital Leases 108000 Square Feet At 1631 Broadway New York From Paramount Group

1631 Broadway, New York, NY, 10019

Building Size

108,000 SF

Asset Type

Office

Closing

Feb 5, 2019

AI

The lease transaction involves a property located at 1631 Broadway, New York, NY, 10019. The total square footage of the leased space is 108,000 square feet, situated in the New York market.

Summary of transaction details:

  • Property Type: Lease
  • Transaction Amount: Not provided
  • Address: 1631 Broadway, New York, NY, 10019
  • Market: New York
  • Landlord: Paramount Group
  • Tenant: New Mountain Capital
  • Landlord's Rep: Emily Jones & Howard Fiddle - CBRE
  • Brokers: Ken Ruderman - Savills

The deal features key representatives including the landlord's representatives, Emily Jones and Howard Fiddle from CBRE, as well as broker Ken Ruderman from Savills, who facilitated the transaction for New Mountain Capital.

Players

Emily Jones Chabrier

CBRE

Broker

15 deals

Broker
Newmark
NewmarkBrokerage
Paramount Group
Paramount GroupLender
Paramount Group
Paramount GroupLandlord

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