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584 Broadway, New York, NY ...

Lev, Inc. Leases Office Space At 584 Broadway In SoHo
LEASEDOffice

Lev, Inc. Leases Office Space At 584 Broadway In SoHo

584 Broadway, New York, NY 10012, USA

Building Size

12,500 SF

Asset Type

Office

Closing

Apr 20, 2021

AI

584 Broadway in SoHo has been leased to Lev, Inc., an office tenant. The property was leased by Olmstead Properties, with Steven Marvin representing the landlord. Lev, Inc. was advised by Daniel Lolai and Joel Kubie from LSL Advisors.

Summary of transaction details

  • Property Type: Office
  • Transaction Date: 04/21/2021
  • Address: 584 Broadway, SoHo
  • Asking Rent: $64/ft.
  • Square Footage: 12,500

Steven Marvin acted as the landlord's representative in the deal, while Daniel Lolai and Joel Kubie represented Lev, Inc. in the lease agreement. The parties involved successfully negotiated the terms, resulting in the leasing of the office space at 584 Broadway.

Players

Daniel Lolai

LSL Advisors

Broker

$211.9M

vol

91 deals

Broker
Lev
LevBrokerage
Olmstead Properties
Olmstead PropertiesLandlord
Lev
LevTenant

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