LaRue Allen Of Martha Graham Dance Co Signs 32-Year Lease With William Farber At 1501 Broadway
1501 Broadway
Building Size
30,757 SF
Asset Type
Other
Closing
Jun 2, 2025
About this deal
AI
The property involved in the transaction is an office asset located at 1501 Broadway in the West Village market. This property encompasses 30,757 square feet and is part of the landmarked Paramount Building, which is owned by Levin Management.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 1501 Broadway
- Market: West Village
- Landlord: William Farber - Paramount Leasehold LP
- Tenant: LaRue Allen - Martha Graham Dance Co
- Lease Term: 32 years
The key individuals in this transaction include William Farber, representing the landlord, and LaRue Allen, representing the tenant, Martha Graham Dance Co. The company will be relocating from Westbeth Home of the Arts to the new space in 2026, with plans for approximately $8 million in studio build-out costs.
On the Map
Other
View full map
Players
Brooklyn Other Market Snapshot
Boundary boundary · Other · Lease transactions
Loading comparables…
Deal FAQ
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