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1745 Broadway, New York, NY...

Penguin Random House Leases Office Space At 1745 Broadway, New York
LEASEDOffice

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

Richard Bernstein

Cushman & Wakefield

Broker

3 deals

Broker

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