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853 Broadway New York, NY 1...

First Look Media Leases Entire 10th Floor At 853 Broadway From Feil Organization With Savills' Brokers
LEASEDOffice

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:

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

Gary Stein

Savills

Broker

$20M

vol

4 deals

Broker
Andrew Wiener

Andrew Wiener

The Feil Organization

Landlord

33 deals

Landlord
The Feil Organization
The Feil OrganizationLandlord

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