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740 Broadway

Civic Entertainment Group Signs Seven-Year Lease Extension For 27180 Square Feet In NoMad
LEASEDOffice

Civic Entertainment Group Signs Seven-Year Lease Extension For 27180 Square Feet In NoMad

740 Broadway & 440 Lafayette Street

Building Size

54,360 SF

Asset Type

Office

Closing

Sep 4, 2025

AI

The asset involved in this lease transaction includes office space spanning 27,180 square feet located at 740 Broadway and 440 Lafayette Street in the NoMad market.

Summary of transaction details:

Civic Entertainment Group signed a seven-year lease extension and expansion for the office space across GFP Real Estate’s properties at 440 Lafayette Street and 740 Broadway.

Players

Allen Gurevich

GFP Real Estate

Broker

8 deals

Broker
GFP Real Estate
GFP Real EstateBrokerage
Brian Steinwurtzel

Brian Steinwurtzel

GFP Real Estate

Landlord

$1.1B

vol

18 deals

Landlord
GFP Real Estate
GFP Real EstateLandlord

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