Davis & Gilbert LLP Expands Midtown HQ With 35th Floor Lease At 1675 Broadway
1675 Broadway
Building Size
98,124 SF
Asset Type
Office
Closing
Nov 13, 2023
AI
Davis & Gilbert LLP, a law firm, has expanded its Midtown headquarters at 1675 Broadway by adding 12,022 square feet on the 35th floor through a new 13-year lease. This brings their total space in the building to 98,124 square feet. The building is located in the Midtown market.
Summary of transaction details
- Property Type: Office
- Transaction Amount: Not specified
- Address: 1675 Broadway
- Market: Midtown
- Square Footage: 98,124 SF
The landlord for this lease is Robert Steinman from Rudin. The tenant, Davis & Gilbert LLP, was represented by Christopher Hogan, Lewis Miller, and Michael Wellen from CBRE.
Players
Brooklyn 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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93