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860 Broadway

Industrious Leases 27,630 SF Office Space At 860 Broadway, Union Square, Manhattan
LEASEDOffice

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:

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

Seth Hecht

JLL

Broker

5 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