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1245 Broadway

GDSNY Leases 23,031 SF Office Space To Parloa Inc At 1245 Broadway For $125/ft
LEASEDOffice

GDSNY Leases 23,031 SF Office Space To Parloa Inc At 1245 Broadway For $125/ft

1245 Broadway

$125

$125/SF

Building Size

23,031 SF

Asset Type

Office

Closing

May 25, 2026

AI

The asset involved in the transaction is an office space located at 1245 Broadway in the NoMad market. The property encompasses 23,031 square feet and is available under a Modified Gross Lease, with an asking rent of $125 per square foot.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $125/ft
  • Address: 1245 Broadway
  • Market: NoMad
  • Landlord: GDSNY
  • Tenant: Parloa Inc
  • Landlord's Rep: Michael Kirchmann
  • Tenant's Rep: Eric Siegel, Daniel Lolai & Chery Anavian - LSL Advisors
  • Lease Type: Modified Gross Lease

The deal involved GDSNY as the landlord and Parloa Inc as the tenant, with representation from Michael Kirchmann for the landlord. The tenant's interests were represented by Eric Siegel, Daniel Lolai, and Chery Anavian from LSL Advisors, showcasing a team effort in facilitating the leasing arrangement.

Players

Daniel Lolai

LSL Advisors

Broker

$211.9M

vol

92 deals

Broker

Michael Kirchmann

GDSNY

Landlord

$95.2M

vol

6 deals

Landlord

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

126904.00%

Cash-on-Cash

-36269.55%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93