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838 Broadway

GlossGenius Leases 13,619 Square Feet Office Space From ZG Capital Partners In Union Square
LEASEDOffice

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:

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

Mitchell Konsker

JLL

Broker

$542M

vol

49 deals

Broker
Joseph Sipala
Verified Badge

Joseph Sipala

JLL

Broker

8 deals

Broker

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