KSR Capital successfully completed the recapitalization of 1410 Broadway, a premier Class A office building located in Midtown West. The property has recently undergone extensive renovations under the management of L.H. Charney Associates and has achieved an impressive occupancy rate of over 90%. In Q4 2023, the property secured new leases totaling over 16,000 square feet.
“We are pleased to announce our newest tenant at this reimagined property,” stated Joseph N. Giannola from L.H. Charney Associates.”As owners, we strategically terminated a lease with a large co-working firm prior to their bankruptcy filing and replaced them with a well-capitalized and creditworthy tenant.” He also noted that as part of this transaction, they were able to restructure and extend their loan with existing lenders due to their strong financial position as proven operators.
The representation for L.H.Charney was done in-house without any involvement from Connect or Connect LA/Texas.
KSR Capital successfully completed the recapitalization process for 1410 Broadway – an esteemed Class A office building situated in Midtown West. Under the leadership of L.H.Charney Associates,the property underwent significant renovations which resulted in an exceptional occupancy rate exceeding90%. During Q4of2023,new leases covering more than16 ,000square feet were secured bythe company.
“We are delightedto welcomeour latesttenantatthis revampedproperty,” saidJosephN.GiannolafromL .H.Charne yAssociates.He further added thatasowners,theystepped forwardandterminatedaleasewithalargeco-workingfirmbeforetheirbankruptcyfiling,andinsteadreplacedthemwithawell-capitalizedandcreditworthytenant.Accordingtohim,thistransactionalsoprovedthatthecapitalmarketsarewillingtoworkwithstrongfinanciallypositionedandreliableoperators.L .H.Charn eywasrepresentedin-hous eforthisdeal,withoutanyinvolvementfromConnectorConnectLA/Texas.
