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150 Broadway, New York, NY,...

Zola Leases Retail Space At 150 Broadway, New York From JEMB Realty
LEASEDRetail

Zola Leases Retail Space At 150 Broadway, New York From JEMB Realty

150 Broadway, New York, NY, 10038

Building Size

12,500 SF

Asset Type

Retail

Closing

Dec 20, 2016

AI

The asset involved in this transaction is a retail property located at 150 Broadway, New York, NY, 10038. This 23-story building, serving as JEMB Realty's headquarters, encompasses a total square footage of 12500. After recently concluding three leases, the property has achieved full occupancy, notable for its longevity since being built in 1924.

Summary of transaction details:

The recent leases include one for wedding registry site Zola, which occupies the 19th floor, and architecture firm Studio Libeskind, taking up the entire 18th floor. JLL represented the landlord, JEMB Realty, throughout these transactions.

Players

Steven Marvin

Olmstead Properties

Broker

9 deals

Broker
JR
JEMB RealtyLandlord
Z
ZolaTenant

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