NewRez Leases 25000 Square Feet At 797 Broadway New York From Columbia Property Trust
797 Broadway, New York, NY, 10003
Building Size
25,000 SF
Asset Type
Office
Closing
Oct 4, 2021
AI
The property involved in this transaction is located at 797 Broadway, New York, NY, 10003, encompassing a total square footage of 25,000. The asset is situated within the New York market.
Summary of transaction details:
- Property Type: Lease
- Transaction Amount: Not specified
- Tenant: NewRez
- Landlord: Columbia Property Trust
- Tenant's Rep: Josh Kuriloff, Andrew Braver - Cushman & Wakefield
This transaction features notable involvement from Columbia Property Trust as the landlord, while Cushman & Wakefield represented the tenant, NewRez, through brokers Josh Kuriloff and Andrew Braver.
Players
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