Zentalis subleases NYC office to LM Cohen for $1.5M/yr; term through 2032

Zentalis Pharmaceuticals, Inc.

Sublease covers suites 1710 and 1800 at 1359 Broadway, New York, with LM Cohen & Co. LLP as subtenant.
Term starts May 1, 2023 (or later if landlord consent delayed) and ends November 29, 2032.
Base rent ~$1.5M/yr ($128k/mo) first 5 years, then ~$1.7M/yr ($141k/mo); 14-month rent abatement included.
Zentalis remains primarily liable under original lease with Landlord ESRT 1359 Broadway; sublease terminates if original lease ends.
Agreement reduces Zentalis's direct occupancy cost but still requires landlord consent per Lease terms.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Zentalis Pharmaceuticals, Inc. entered into Sublease Agreement with LM Cohen & Co. LLP valued at Base rent approximately $1.5 million per annum for first five years, then $1.7 million per annum (effective 2023-03-06).

Action: entry
Agreement: lease
Counterparty: LM Cohen & Co. LLP
Value: Base rent approximately $1.5 million per annum for first five years, then $1.7 million per annum
Effective: 2023-03-06

Exact text from the filing

On March 6, 2023, Zentalis Pharmaceuticals, Inc. (the “Company”) and LM Cohen & Co. LLP (the "Subtenant") entered into a Sublease Agreement (the "Sublease") pursuant to which the Subtenant will sublease the Company's office space located at 1359 Broadway, Suites 1710 and 1800, New York, NY 10018 (the "Premises"), which the Company leased under that certain Lease Agreement entered into on March 24, 2021 (the "Lease") between the Company and ESRT 1359 BROADWAY, L.L.C. (the "Landlord").

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Source: SEC EDGAR

accession 0001725160-23-000053

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