Connaught Leases 5,339 SF Office Space At 888 Broadway In Flatiron District, Manhattan
888 Broadway New York, Ny 10003, Usa
Building Size
5,339 SF
Asset Type
Office
Closing
Sep 5, 2023
AI
Connaught, a company opening its first New York office near Union Square, has leased a 5,339-square-foot office space at 888 Broadway in the Flatiron District of Manhattan. The lease transaction was brokered by CBRE, with Jared Isaacson serving as the tenant's representative and CBRE's team of Paul Amrich, Neil King, Alex D'Amario, and Shay Kenney representing the landlord, Cannon Hill Capital Partners, and Invesco Real Estate.
Summary of transaction details
- Property Type: Office
- Transaction Amount: Not specified
- Square Footage: 5,339
- Address: 888 Broadway, Flatiron District, Manhattan
- Market: Flatiron District, Manhattan
The tenant, Connaught, has chosen to establish its first New York office near Union Square, specifically at 888 Broadway in the Flatiron District of Manhattan. This choice signifies their interest in strategically positioning themselves in a prime location within the vibrant neighborhood. CBRE, a reputable brokerage firm, facilitated the lease transaction, with Jared Isaacson effectively representing Connaught's interests. On the other side of the deal, the landlord, Cannon Hill Capital Partners, and Invesco Real Estate, trusted the expertise of CBRE's team, including Paul Amrich, Neil King, Alex D'Amario, and Shay Kenney, to secure a suitable tenant for their property at 888 Broadway.
Players
Hanover 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