GlossGenius Leases 13,619 Square Feet Office Space From ZG Capital Partners In Union Square
838 Broadway
Building Size
13,619 SF
Asset Type
Office
Closing
Aug 12, 2024
AI
838 Broadway is an office asset located in Manhattan's Union Square, comprising 13,619 square feet of office space. It is under the ownership of ZG Capital Partners. The property is situated in a prime market area, which is known for its vibrant business environment.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not disclosed
- Address: 838 Broadway
- Market: Union Square
- Landlord: ZG Capital Partners
- Tenant: GlossGenius
- Brokers: Greg Wang, Gregory Wang, Hannah Bernstein, Joseph Sipala, Mitchell Konsker, Thomas Swartz & Stefanie Rock - JLL
The lease transaction involved GlossGenius, a fintech company, securing the office space at the specified location. JLL represented both the landlord and tenant in this deal, with a team of brokers facilitating the negotiation process.
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