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
About this deal
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.
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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