facebook

traded

+ Submit
Home

/

Deals

/

New York

/

Office

/

Lease

/

555 Broadway

Ryan Simonetti Of Convene Leases 32000 Square Feet Office At Scholastic's 555 Broadway In SoHo
LEASEDOffice

Ryan Simonetti Of Convene Leases 32000 Square Feet Office At Scholastic's 555 Broadway In SoHo

555 Broadway

Building Size

32,000 SF

Asset Type

Office

Closing

Jul 15, 2025

AI

The property asset involved in this transaction is an office space located at 555 Broadway in SoHo, Manhattan. The total square footage of the asset is 32,000 square feet, which Scholastic is leasing to Convene for its 16th location in New York City, set to open in spring 2026.

Summary of transaction details:

Convene is securing this lease to fulfill increased client demand in the SoHo neighborhood, reflecting a strategic expansion of their office presence in New York City.

Players

Karen Bellantoni

Newmark

Broker

6 deals

Broker
Newmark
NewmarkBrokerage
Ryan Simonetti

Ryan Simonetti

Tenant

1 deal

Tenant

New York Office Market Snapshot

Boundary boundary · Office · Lease transactions

Loading comparables…

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