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
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