Grocery Garden Leases Mixed-Use Space In Soho Manhattan From Gatsby Enterprises
529 Broome Street
$130
$130/SF
Building Size
2,400 SF
Asset Type
Mixed-use
Closing
Nov 30, 2023
About this deal
AI
Grocery Garden has signed a lease for a mixed-use property located at 529 Broome Street in Soho, Manhattan. The property, owned by Gatsby Enterprises, offers a total square footage of 2,400. The lease was facilitated by brokers Aaron Aziz and Joseph Gohari from Avenue Realty Advisors. The asking rent for the space was $130 per square foot.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: Not mentioned
- Address: 529 Broome Street
- Market: Soho, Manhattan
- Tenant: Grocery Garden
- Landlord: Gatsby Enterprises
- Brokers: Aaron Aziz & Joseph Gohari - Avenue Realty Advisors
- Asking Rent: $130/ft
- Lease Type: Modified Gross Lease
Aaron Aziz and Joseph Gohari from Avenue Realty Advisors played crucial roles in the lease transaction between Grocery Garden and Gatsby Enterprises. Their expertise and negotiation skills facilitated the agreement for the mixed-use property at 529 Broome Street in Soho, Manhattan. This lease will allow Grocery Garden to establish its presence in a prime location within the vibrant neighborhood of Soho.
Players
New York Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
122023.08%
Cash-on-Cash
-34874.57%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93