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:
- Property Type: Retail
- Transaction Amount: Not specified
- Address: 150 Broadway, New York, NY, 10038
- Tenant: Zola
- Landlord: JEMB Realty
- Tenant's Representatives: Marcus Rayner - Colliers International, Steven Marvin - Olmstead Properties
- Square Feet: 12500
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
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