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860 Broadway

Valon Technologies Relocates To 13,815 SF Office Space At 860 Broadway In Midtown South
LEASEDOffice

Valon Technologies Relocates To 13,815 SF Office Space At 860 Broadway In Midtown South

860 Broadway

Building Size

13,815 SF

Asset Type

Office

Closing

Dec 14, 2023

AI

Valon Technologies, a fintech company backed by private equity, has secured a 13,815-square-foot full-floor office space at 860 Broadway in Midtown South. The office space will serve as the company's new headquarters, as they are relocating from a co-working space in Q1 2024.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not available
  • Address: 860 Broadway
  • Market: Midtown South
  • Square Footage: 13,815

Valon Technologies secured the lease from Tim Gordon, the landlord of Gordon Property Group. The deal was facilitated by Cushman & Wakefield, acting as the landlord's representative. Seth Hecht and Thomas Swartz from JLL represented Valon Technologies as their tenant's representatives in this transaction.

Players

Seth Hecht

JLL

Broker

5 deals

Broker
GG
Gordon Property GroupLandlord

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