LS Power Renews 13,700 Square Foot Lease At Rockpoint's 1700 Broadway In Midtown Manhattan
1700 Broadway
$85
$85/SF
Building Size
13,700 SF
Asset Type
Office
Closing
Jan 9, 2025
About this deal
AI
The office asset located at 1700 Broadway in Midtown Manhattan consists of a lease renewal for 13,700 square feet on the 38th floor. The asking rent for this property is set at $85 per square foot.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $85/ft
- Square Footage: 13,700
- Address: 1700 Broadway
- Market: Midtown Manhattan
- Landlord: Keith Gelb - Rockpoint
- Tenant: LS Power
- Landlord's Representative: David Falk & Peter Shimkin - Newmark
- Tenant's Representative: Benjamin Friedland, Gary Davies & Taylor Scheinman - CBRE
The deal features the involvement of key representatives from real estate firms, with David Falk and Peter Shimkin acting as the landlord's representatives from Newmark, while the tenant is represented by Benjamin Friedland, Gary Davies, and Taylor Scheinman from CBRE.
On the Map
$85
$85/SF
Office
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Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
186623.53%
Cash-on-Cash
-53337.58%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93