OVERVIEW

Cushman & Wakefield (“C&W”) has been exclusively retained to offer for sale the leasehold interest in the retail condominium at 2000 Broadway (the “Property”) on the Upper West Side in New York, NY. The Property is located at the northeast corner of Broadway and West 68th Street and spans 32,400 square feet across the ground floor (22,000 SF), lower level (5,400 SF) and mezzanine (5,000 SF).
2000 Broadway is currently 100% leased to Lowe’s Companies, Inc (Moody’s: Baa1 / S&P: BBB+) through October of 2025. Though the tenant has gone dark at the Property, the parent guarantees the lease on behalf of its Lowe’s Home Centers, LLC through the remainder of its lease. Though the tenant’s lease expires on October 31, 2025, this provides a new buyer with significantly above market cash flow returns in the near term before needing to reposition the asset upon LXP. The Leasehold has an initial expiration date of March 2027 but it comes with five 5-year renewal options, providing a total remaining lease term of 27 years. The ground rent is fixed at $200,000 per year for the remainder of the lease.