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1700 Broadway

LifeSci Advisors Leases 1700 Broadway Office Space In Midtown Manhattan, 13,533 SF
LEASEDOffice

LifeSci Advisors Leases 1700 Broadway Office Space In Midtown Manhattan, 13,533 SF

1700 Broadway

Building Size

13,533 SF

Asset Type

Office

Closing

Mar 7, 2024

AI

Located in Midtown Manhattan, 1700 Broadway is now home to LifeSci Advisors, with Andrew McDonald signing a seven-year lease for 13,533 square feet on the 40th floor. Newmark brokers facilitated the deal between the tenant and the landlord, Rockhill Management.

Summary of transation details:

Moreover, Denodo Technologies also secured a lease in the same building, signing a 10-year lease for 13,408 square feet on the 31st floor, also facilitated by Newmark. This transaction marks the largest deal in the property, providing a boost to the building's occupancy and vitality.

Players

Brian Waterman

Newmark

Broker

$300.4M

vol

30 deals

Broker
David Falk
Verified Badge

David Falk

Newmark

Broker

61 deals

Broker

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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