The Org Leases Office Space At 446 Broadway, New York With KPG Funds
446 Broadway, New York, NY, 10013
Building Size
7,463 SF
Asset Type
Office
Closing
Sep 16, 2021
AI
The office property located at 446 Broadway, New York, NY, 10013, with a total square footage of 7463, was recently leased in the New York market. The tenant, The Org, secured this space from the landlord, KPG Funds, in a transaction facilitated by tenant's representatives Owen Reda and Scott Brown from Newmark.
Summary of transation details:
- Property Type: Office
- Transaction Amount: Not provided
- Tenant: The Org
- Landlord: KPG Funds
- Square Feet: 7463
- Tenant's Rep: Owen Reda (Newmark), Scott Brown (Newmark)
The presence of Owen Reda and Scott Brown from Newmark as the tenant's representatives in the lease agreement highlights their role in negotiating and finalizing the deal between The Org and KPG Funds. This transaction underscores the collaborative effort between the tenant's representatives and the landlord, ensuring a successful agreement for the office space at 446 Broadway.
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