Industrious Leases 27,630 SF Office Space At 860 Broadway, Union Square, Manhattan
860 Broadway
Building Size
27,630 SF
Asset Type
Office
Closing
Apr 22, 2024
AI
Located at 860 Broadway in Union Square, Manhattan, the office space spans 27,630 square feet and was recently leased to Industrious. The property is owned by Gordon Properties.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not provided
- Address: 860 Broadway
- Market: Union Square, Manhattan
- Landlord's Rep: Seth Hecht & Thomas Swartz - JLL
- Tenant's Rep: Ben Bouganim, Ed Wartels & Justin Halpern - Cushman & Wakefield
Industrious secured an additional 27,630 square feet of office space near Union Square, Manhattan, through the leasing at 860 Broadway. The deal was facilitated by JLL representing the landlord and Cushman & Wakefield representing the tenant in this 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