Feil Organization Leases Office Space At 841 Broadway, New York To Tenant Michael Mathias
841 Broadway # 853, New York, NY, 1...
Building Size
15,000 SF
Asset Type
Office
Closing
Feb 13, 2018
AI
The Union Square Hospitality Group, led by Danny Meyer, has leased 15,000 square feet of office space at the Feil Organization's 853 Broadway in New York City. The prominent company's new corporate office will span the full 17th and 18th floors, uniquely interconnected by a staircase in the 21-story building located at the vibrant intersection of Broadway and East 14th Street.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 841 Broadway # 853, New York, NY
- Market: New York
- Tenant's Rep: Michael (Mike) Mathias (Cushman & Wakefield)
- Landlord: Feil Organization
Michael Mathias of Savills Studley represented the Union Square Hospitality Group in the lease deal. The Feil family, longstanding owners of 853 Broadway, revamped the building with a $15 million renovation in 2015, enhancing its contemporary appeal with a new glass facade. The property also houses other notable tenants like TrueX Media, Brack Capital Real Estate, and Media iQ Digital.
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