Linda G. Mills Of New York University Signs 70-Year Lease At 770 Broadway For $9.3M Annually

The property involved in the transaction is an office asset located at 770 Broadway in Lower Manhattan. The landlord is Vornado Realty Trust, represented by Steve Roth. The tenant, New York University, represented by Linda G. Mills, has secured a lease valued at $9,300,000 per year for a total square footage of 1,100,000. The lease is established for a term of 70 years.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $9,300,000/yearly
• Square Footage: 1,100,000
• Address: 770 Broadway
• Market: Lower Manhattan
• Landlord: Steve Roth - Vornado Realty Trust
• Tenant: Linda G. Mills - New York University
• Lease Term: 70-year lease
• Note: NYU has signed a $935M lease deal for 1.1M SF of office space at 770 Broadway, agreeing to pay $9.3M annually over a 70-year term and gaining purchase options in 2055 and 2095.

This lease transaction involves key individuals in the leasing process with Steve Roth acting on behalf of Vornado Realty Trust and Linda G. Mills representing New York University. The agreement ensures a substantial long-term tenancy benefiting both parties in their respective operations within the office market in Lower Manhattan.