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:
- Property Type: Office
- Transaction Amount: Not specified
- Landlord: Rockhill Management
- Tenant: Andrew McDonald - LifeSci Advisors
- Brokers: Brian Waterman, Daniel Levine, David Falk, Jonathan Fanuzzi & Peter Shimkin - Newmark
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
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