First Look Media Leases Entire 10th Floor At 853 Broadway From Feil Organization With Savills' Brokers
853 Broadway New York, NY 10003, USA
Building Size
7,896 SF
Asset Type
Office
Closing
Jun 5, 2023
AI
The property asset involved in the transaction is an office space located at 853 Broadway in Manhattan with a total square footage of 7,896. The entire 10th floor has been leased, emphasizing its suitability for commercial use.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not disclosed
- Address: 853 Broadway
- Market: Manhattan
- Landlord: Feil Organization
- Landlord Representatives: Andrew Wiener & Rob Fisher
- Tenant: First Look Media
- Brokers: Gary Stein, Ken Ruderman & Michael Bertini
- Lease Term: Five years
The deal highlights the involvement of the Feil Organization as the landlord, represented by Andrew Wiener and Rob Fisher, while First Look Media acts as the tenant. Gary Stein, Ken Ruderman, and Michael Bertini from Savills were the brokers facilitating the transaction.
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