Empire State Realty Trust Leases 4049 SF Retail Space In New York
1359 Broadway, New York, NY, 10018
Building Size
4,049 SF
Asset Type
Retail
Closing
May 5, 2022
AI
The property at 1359 Broadway, New York, NY, 10018, consists of a retail space spanning 4,049 square feet. The transaction took place on 05/05/2022 in the vibrant market of New York. The landlord's representatives were Neil V. King III from CBRE and Ryan Kass from Empire State Realty Trust. The deal was facilitated by Reid Longley of Colliers International on behalf of the landlord, Empire State Realty Trust.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not provided
- Landlord's Representative: Neil V. King III(CBRE), Ryan Kass(Empire State Realty Trust.)
- Broker: Reid Longley(Colliers International)
- Landlord: Empire State Realty Trust
- Square Feet: 4,049
The lease of the retail space at 1359 Broadway was successfully negotiated with the expertise of an array of professionals in the real estate industry, showcasing a collaborative effort between the landlord, represented by Neil V. King III and Ryan Kass, and the broker, Reid Longley. This transaction highlights the seamless coordination and execution involved in securing a retail lease in the bustling market of New York.
Players
New York Retail Market Snapshot
Boundary boundary · Retail · 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