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888 Broadway New York, Ny 1...

Connaught Leases 5,339 SF Office Space At 888 Broadway In Flatiron District, Manhattan
LEASEDOffice

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

Paul Amrich

CBRE

Broker

37 deals

Broker
Invesco Real Estate
Invesco Real EstateLender
Invesco Real Estate
Invesco Real EstateLandlord

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