Penguin Random House Leases Office Space At 1745 Broadway, New York
1745 Broadway, New York, NY, 10019
Building Size
603,605 SF
Asset Type
Office
Closing
Sep 7, 2016
AI
The office property located at 1745 Broadway in New York, NY 10019, boasting a total of 603,605 square feet, was leased on September 7, 2016. The tenant, Penguin Random House, signed the lease with the landlord, Ivanhoe Cambridge, in the bustling New York market. The deal was facilitated by Richard Bernstein of Cushman & Wakefield, serving as the tenant's representative.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Tenant: Penguin Random House
- Landlord: Ivanhoe Cambridge
- Square Feet: 603,605
- Tenant's Rep: Richard Bernstein (Cushman & Wakefield)
The notable individuals involved in this lease transaction include Richard Bernstein from Cushman & Wakefield, acting as the tenant's representative on behalf of Penguin Random House. The landlord, Ivanhoe Cambridge, played a significant role in finalizing the deal, aligning their interests with those of the tenant to secure this substantial office space in the vibrant New York market.
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