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55 Broadway New York, NY 10...

Corporation For Supportive Housing Leases 10,570 SF Office Space At 55 Broadway In Financial District
LEASEDOffice

Corporation For Supportive Housing Leases 10,570 SF Office Space At 55 Broadway In Financial District

55 Broadway New York, NY 10006, USA

Building Size

10,570 SF

Asset Type

Office

Closing

Sep 12, 2023

AI

The Corporation for Supportive Housing has signed an 11-year lease for the entire 10th floor at 55 Broadway in the Financial District, Manhattan. The lease encompasses a total of 10,570 square feet of office space.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: Not mentioned
  • Address: 55 Broadway, Financial District, Manhattan
  • Market: Financial District, Manhattan
  • Tenant: Corporation for Supportive Housing - Stephen Norman
  • Landlord: Harbor Group International - Jordan Slone
  • Tenant's Representative: Aron Schreier & Jason Kroeger - Cushman & Wakefield
  • Landlord's Representatives: Bradley (Brad) Gerla, Hayden Pascal & Jonathan Cope - CBRE

The lease agreement at 55 Broadway was facilitated with the assistance of Aron Schreier and Jason Kroeger from Cushman & Wakefield, who represented the Corporation for Supportive Housing. On the landlord's side, the deal was handled by Bradley Gerla, Hayden Pascal, and Jonathan Cope from CBRE, serving as the landlord's representatives. The lease term is set for 11 years, providing the Corporation for Supportive Housing with a dedicated space for their operations in the Financial District.

Players

Bradley Gerla

CBRE

Broker

$116.1M

vol

12 deals

Broker
Jordan Slone

Jordan Slone

Harbor Group International

Landlord

$5.4B

vol

21 deals

Landlord

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