Empire State Realty Trust Leases Office Space To Cutie Pie Inc At 1400 Broadway
1400 Broadway
$68
$68/SF
Building Size
19,010 SF
Asset Type
Office
Closing
Oct 19, 2025
AI
The asset involved in this transaction is located at 1400 Broadway in the Garment District, representing office space. The asking rent is set at $68 per square foot for a total of 19,010 square feet leased under a Modified Gross Lease arrangement.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $68/ft
- Address: 1400 Broadway
- Market: Garment District
- Landlord: Empire State Realty Trust
- Tenant: Cutie Pie Inc
- Landlord's Representative: Michael Poch - CBRE
- Tenant's Representatives: Wayne Siegel, Raymond (Ray Balas) Balassiano & Daniel Lolai - LSL Advisors
- Lease Type: Modified Gross Lease
The deal showcases the representation of the landlord and tenant, with Michael Poch representing Empire State Realty Trust, while the tenant's interests are represented by Wayne Siegel, Raymond Balassiano, and Daniel Lolai, all from LSL Advisors.
Players
New York Office Market Snapshot
Boundary boundary · Office · Lease transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
233279.41%
Cash-on-Cash
-66671.97%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93